ABA Welcomes FDIC Regulatory Withdrawals

"We welcome today's decisions from Acting Chairman Hill and the FDIC Board of Directors to rescind and withdraw a range of regulatory actions advanced by the agency's prior leadership. In particular, we applaud the decision to rescind the 2024 merger policy statement, which created more uncertainty in the marketplace for banks looking to make strategic decisions about their future, as well as the decision to withdraw the misguided brokered deposits proposal. As we shared previously, that proposal threatened to undermine important relationships between banks and third parties, and it was inconsistent with the law. The three other proposals withdrawn today also had significant flaws that, if adopted, would have made it harder for banks to focus on serving their customers and communities, and ultimately support the economy. 

"We look forward to providing our perspective on what a rational merger review process should look like in the future, as we also encourage policymakers to make it easier for entrepreneurs to launch new banks, so we can ensure the U.S. continues to have the deepest and most competitive banking system in the world. If the FDIC decides to re-propose any of the rules withdrawn today, we will be prepared to comment on behalf of our members across the country."