House Financial Services Committee Chair Maxine Waters (D-CA) challenged FDIC Chair Jelena McWilliams to cite the legal authority relied on for her halting a review of the bank merger process.
In a letter to the FDIC Chair, Ms. Waters urged Ms. McWilliams to reconsider her position, pointing out that the majority of the FDIC Board is in favor of re-evaluating the merger review process. Ms. Waters asserted that Ms. McWilliams should collaborate with the Board Members and other regulators in order to promote fair competition through improvements in Bank Merger Review standards.
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