US Bank Merger Deals Face Tougher Scrutiny for FDIC Approval.

The Federal Deposit Insurance Corp. (FDIC) has voted to adopt new guidelines that will make it more difficult for US bank mergers to gain approval. The Biden administration is seeking to curb consolidation in the financial industry, and the FDIC's plan will add additional scrutiny to mergers, taking into account their impact on financial stability, competition, communities, and customers. Deals resulting in firms with over $100 billion in assets will face a tougher process, with the FDIC assessing potential risks to the financial system. The move is part of a broader effort to address concerns about competition and stability in the banking sector. [Extracted from the article]