- The OCC yesterday gave the green light to CIT Group's $3.4B purchase of OneWest Financial, and earlier this month regulators approved BB&T's $2.5B acquisition of Susquehanna Bancshares.
- Possibly lifted now is concern nearly any sizable deal would get nixed (or delayed to death) by D.C. a la M&T's attempt to purchase Hudson City Bancorp (originally announced three years ago).
- Both the CIT and BB&T deals, however, were approved within a year of their announcement, maybe making the M&T/Hudson experience the outlier rather than the norm.
- While it still appears unlikely much bigger deals could win approval, the path could be clear for smaller-to-medium sized lenders to do business. Drexel Hamilton's David Hilder believes the CIT approval is a "positive catalyst" for acquisitions of lenders with up to $25B in assets.
- Previously: CIT Group gains after winning regulatory green light for OneWest purchase (July 21)
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