- OCC to Eliminate Certain Automatic Bank-Merger Approvals
- Acting Comptroller Michael Hsu previews proposal in speech
The US Office of the Comptroller of the Currency would take a tougher approach to evaluating mergers, including eliminating certain automatic approvals, under a proposal set to be released Monday.
Acting Comptroller of the Currency Michael Hsu will preview the plan in his speech at the University of Michigan’s School of Business. The proposal would remove a decades-old requirement that certain merger applications be automatically approved by the OCC on the 15th day after the close of the comment period — unless the agency takes action to remove the filing from expedited processing.
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