The Justice Department announced that it is withdrawing its 1995 bank merger guidelines, saying its 2023 merger guidelines for all industries will be its sole and authoritative policy.
Banking Addendum: The DOJ also released an addendum explaining the application of the 2023 guidelines to banking. This commentary identifies competition issues that may commonly occur in bank mergers and outlines guidelines that inform analysis of those issues.
Banking Impact: The guidelines note that industries trending toward consolidation may be subject to additional scrutiny, indicating bank mergers could receive stricter review.
ICBA View: In a comment letter last year, ICBA urged the DOJ to continue using its practice of reviewing bank mergers according to its distinct set of bank merger guidelines, rather than applying “horizontal” guidelines that apply to multiple industries, given its limited role in reviewing bank mergers.
