Small Business Resources, Business Advice and Forms from AllBusiness.com

A threat to mergers?(House modernization bill language assigning sole responsibility of bank...

The House's modernization bill has a little-discussed provision that could have unintended-and unhappy-consequences for bank mergers, according to an attorney and a consultant who have examined the affected sections.

Heeding suggestions that the antitrust review of bank mergers be expedited, the House incorporated language that assigns sole responsibility for the reviews to the Justice Department, say David S. Neill, a partner with Wachtell, Lipton, Rosen & Katz and John Danforth, a senior consultant with the Secura Group. Their arguments appeared in a recent issue of BNA'

In addition, make sure to read these premium articles also available with your free trial:

T T T
art_print Printart_email Email 16x16-digg-guy  Digg It delicious-small  del.icio.us

Related Resources

Free AllBusiness Articles

  • Mr. Dods goes to Washington; the chairman of First Hawaiian Inc. knows that acquiring a second bank is not as easy as one-two-three.
    • MR. DODS GOES TO WASHINGTON THE CHAIRMAN OF FIRST HAWAIIAN INC. KNOWS THAT ACQUIRING A SECOND BANK IS NOT AS EASY AS ONE-TWO-THREE. Last summer, as he toured the country to tout the sale of $120 million in First Hawaiian Inc. stock, Walter Dods Jr. won over room after room ......
  • Justice makes a comeback: recent bank mergers including some between small banks, have attracted the attention of the U.S. Justice Department's antitrust watchdog.
    • "In-market mergers are the order of the day-everyone is looking for them," says banking attorney Brian Smith. The litany of hoped-for efficiencies such deals can produce make them attractive. They also set off warning lights on the government's antitrust meter. The concern-among bank regulators, the Justice Department's Antitrust Division, and ......
  • Regulators Always Have the Power to Pull the Plug
    • Between 1990 and 2002, the total number of banks and thrifts in the United States fell from 15,131 institutions to 9,336. The foremost cause of the decline was a significant relaxation of U.S. bank branching laws, which allowed mergers and acquisitions that previously had been prohibited. Such mergers and acquisitions ......
  • Banking antitrust: Are the assumptions still valid?
    • The federal bank regulatory agencies and the U.S. Department of Justice (DOJ) scrutinize bank mergers and acquisitions for potential antitrust violations. To perform this antitrust analysis, the federal regulators make assumptions about the geographic scope of banking markets, the types of competitors that banks face in these market areas, and ......
  • Legal developments
    • ORDERS ISSUED UNDER BANK HOLDING COMPANY ACT Orders Issued Under Section 3 of the Bank Holding Company Act Cooperative Centrale Raiffeisen-Boerenleenbank B. A., Rabobank Nederland Utrecht, The Netherlands Order Approving the Acquisition of a Bank Holding Company and Bank Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., Rabobank Nederland ("Rabobank"), a foreign banking organization, ......
  • Legal developments
    • ORDERS ISSUED UNDER BANK MERGER ACT Bank of Orange County Fountain Valley, California Order Approving Merger of Banks and Establishment of Branches Bank of Orange County ("Bank"),1 a state member bank, has applied under section 18(c) of the Federal Deposit Insurance Act (12 U.S.C. sec 1828(c)) ("Bank Merger Act") to ......
  • What's Next for Consolidation in Banking?
    • FUTURE M&A ACTIVITY WILL POSE NEW AND SIGNIFICANT CHALLENGES FOR REGULATORS Repeal of many provisions of the Glass-Steagall Act and structural changes in banking imply that many banks will either consolidate with other banks or converge with non-bank financial firms. Although merger and acquisition activity has been slowed recently by ......
Related Topics
Tools

Sponsored Links

Site Map | Contact Us | FAQs | About Us | Media Kit | Reprints | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy

Copyright © 1999 - 2008 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.

Get In-Depth Company Information from Hoover's | Buy a D&B Credit Report | What is in Your Company's D&B Credit Report? | Article Archives
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
Information and opinions on AllBusiness.com solely represent the thoughts and opinions of the authors and are not endorsed by, or reflect the beliefs of,
AllBusiness.com, its parent company D&B, and its affiliates.