Bank Competition Modernization Act

Right now, government regulators are not allowed to approve bank mergers if those mergers would create a monopoly or significantly reduce competition. This bill changes that rule for smaller mergers — specifically, if the combined bank would have less than $10 billion in assets, regulators would no longer have to consider whether the merger hurts competition. The $10 billion limit would be adjusted each year to keep up with the growth of the U.S. economy.

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