ABA Welcomes FDIC Proposals on State Bank Parity Mergers

“Today’s FDIC proposal on parity for state banks recognizes that modern banking activities, including payments, lending, deposits and servicing, do not stop at state borders. It also supports what we have long advocated — state-chartered banks should not face a structural disadvantage simply because they serve customers in a state where they do not maintain a physical branch. The FDIC’s actions will strengthen our nation’s dual banking system by allowing state banks to compete nationally while maintaining state chartering and state supervision’s central role, ensuring banks of all sizes and charter types can better serve their customers, clients and communities.

“We also welcome the FDIC’s proposal on bank mergers, which will update the competitive analysis criteria to reflect increased competition from tax-exempt credit unions and other nonbank entities in today’s marketplace. ABA has long urged bank regulators to modernize outdated competition guidelines for bank mergers, and the FDIC’s proposal is a step in the right direction. We look forward to reviewing both proposals in full and sharing our views through the comment process.”

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $26.5 trillion banking industry, which is composed of small, regional and large banks that together employ over 2 million people, safeguard $20.7 trillion in deposits and extend $13.9 trillion in loans.

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