Trump Revokes Order to Ease M&A Rules

President Donald Trump has revoked a 2021 executive order from the Biden administration aimed at promoting competition across the US economy, in a move likely to make it easier for companies and banks to merge and expand.

The rule, issued by the Office of the Comptroller of the Currency (OCC) under President Joe Biden, aimed to tighten scrutiny of proposed bank mergers.

It eliminated a decades-old policy under which the OCC automatically approved merger applications 15 days after the close of the public comment period if no action was taken.

It also removed streamlined processes for small bank mergers and introduced tougher review standards for institutions with at least $50 billion in assets, including major national banks like JPMorgan Chase and Bank of America.

The bill aimed to address what the administration called “excessive consolidation” in sectors ranging from agriculture to healthcare and banking.

However, the Trump administration has described the Biden-era approach as “overly prescriptive and burdensome” and said its focus will shift to an “America First Antitrust” policy that prioritizes free-market principles. In practice, this means less regulatory friction for banks seeking to merge or acquire other institutions.

The OCC had already moved to rescind the regulation on its own in May, alongside the Federal Deposit Insurance Corp., which rolled back a similar policy increasing oversight of bank mergers.

Industry analysts expect the rollback to accelerate merger activity in the banking sector, potentially leading to larger, consolidated institutions. While proponents argue this will encourage efficiency and growth, critics warn it could reduce competition and limit choices for consumers.