Donald Trump to order US banks mergers soon?
Donald Trump's return to the White House could usher in a wave of bank mergers and acquisitions as the administration appoints regulators who are more open to approving larger deals, financial executives and analysts said on Tuesday, as per a report.
The banking industry is expected to win big if Republican regulators ease capital rules and merger approvals when they replace the aggressive financial regulators of the Biden era, Reuters reported.
«I have to believe we are entering a moment where bigger deals can be done,» Mitchell Eitel, managing partner at law firm Sullivan & Cromwell, told a banking conference in New York.
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The regulators could become more receptive to larger acquisitions, overturning recent perceptions that smaller deals were more likely to be endorsed by officials. One key test case will be Capital One Financial Group's $35.3 billion agreement to take over Discover Financial.
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