Deals
Bank Mergers Face Fresh Antitrust Heat at Justice Department
- DOJ’s top antitrust cop to speak on bank deals Tuesday
- Some agencies signal openness to mergers in wake of failures
Justice Department antitrust chief Jonathan Kanter.
Photographer: Al Drago/BloombergThis article is for subscribers only.
Top Justice Department antitrust lawyers are weighing a revamp of how they scrutinize bank mergers, complicating further consolidation for an industry that’s facing some of its biggest challenges since the financial crisis.
Four banks have collapsed this year and regulators are seeking to thread a difficult needle. Although US officials have said they’re going to maintain a tough line, there has been significant consolidation — including the purchase of First Republic Bank by JPMorgan Chase & Co., which was already the biggest American lender.