Browsing: Competition

Technology

The CFPB is examining the effects of a concentrated core platform marketplace on consumers and banks, CFPB Director Rohit Chopra said today. Speaking to the bureau’s community bank and credit union advisory councils, Chopra said he is “concerned that the core services providers that small players rely on have too much power in the system.”

Legal

The American Bankers Association told the Department of Justice today that the 1995 bank merger competitive review guidelines are outdated and do not take into account the competitive effects of online banking and competition from nonbanks.

Legal

Noting the rapid technological transformation of financial services, the Justice Department’s Antitrust Division today requested public comments on whether and how it should revise its guidelines—virtually unchanged since 1995—for reviewing the competitive effects of bank mergers.

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