On May 8, the OCC adopted an interim final rule to restore streamlined application and review procedures under the Bank Merger Act. The rule aims to provide clearer guidelines for institutions regarding the OCC’s review process for bank mergers. This rule also rescinds the OCC’s prior policy statement summarizing its review of proposed bank mergers with the aim to reduce the burden and uncertainty from the policy. The OCC will assess factors such as the size of the combined institutions, the availability of substitute providers, and the complexity of the financial system. A balancing test will be used to weigh the financial stability risks posed by the pending transaction against the risk posed by denying it. The 2024 final rules were set to take effect at the start of this year.