White House to target bank mergers, financial data with competition order

Topics White House | Bank mergers | M&As

President Joe Biden's planned executive order to promote greater U.S.

competition will target bank mergers by pushing the Federal Reserve and the Department of Justice to update merger guidelines and increase scrutiny of deals, according to a source familiar with the matter. It will also ask the Consumer Financial Protection Bureau (CFPB) to issue rules giving consumers full control of their financial data to make it easier for customers to switch banks, the source said. The planned order, which is expected to be signed by Biden.....

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