ABA Statement on FDIC Board Actions on Resolution Planning, Mergers

"While the FDIC's final rule on resolution planning includes some modest improvements in response to comments from banks and the public, it still raises serious concerns. The rule's overly broad and impractical mandates are piled on top of a number of other recent regulatory changes that will ultimately come at a cost to bank customers without meaningfully improving resiliency.

"Regarding merger and deposit insurance approvals, we agree with the board's common-sense vote to ensure that proposed deals are not allowed to languish for more than nine months. Timely and fair consideration of these applications is not too much to ask of a federal agency. We do urge the FDIC to continue its practice of protecting banks' confidentiality by not issuing detailed public statements on why merger applications are denied or withdrawn."

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About the American Bankers Association

The American Bankers Association is the voice of the nation's $24 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19 trillion in deposits and extend $12.4 trillion in loans.