DOJ Contemplates Innovative Financial-Sector M&A Antitrust Construct
This report analyzes yesterday’s request for comment from the Department of Justice on antitrust considerations related not only to bank mergers, but now also to those with nonbanks.  This is a break-through development revising 1995 standards that of course fail to reflect the significant evolution of U.S. financial markets over more than two decades.  However, the issues Justice contemplates – i.e., if consumer-finance competitiveness should be judged nationally rather than locally – have significant implications also for regional-bank transactions and, depending on how the Antitrust Division chooses to measure competitiveness in rural areas, also for community banks and credit unions.

MERGER5.pdf