Competition Corner

On September 17, 2024, the DOJ’s Antitrust Division withdrew from its 1995 Bank Merger Guidelines and announced that, going forward, it will use the 2023 Merger Guidelines, along with a 2024 Banking Addendum, in evaluating the competitive impact of mergers and acquisitions in the banking industry. The DOJ’s announcement comes roughly three years after President Biden issued an executive order encouraging the DOJ to enhance the enforcement standards set forth in the previous Bank Merger Guidelines. 

Our latest episode, “Don’t Nickle and Dime Compliance: Antitrust and Consumer Protection Risks in Finance,” features Antitrust Practice Co-Chair Eva Cole and Partner Dana Cook-Milligan chat about enforcement and litigation risks in the financial services sectors. They explore best practices that firms should follow in the wake of volatility and uncertainty in the banking sector.

President Biden’s July 2021 Executive Order on Competition in the American Economy (the Order) includes a number of directives meant to address concerns over reduced competition in the commercial banking industry.