U.S. Fed approves merger between BB&T, SunTrust Banks

Beacon Financial

19/11/2019 21:00

WASHINGTON, Nov 19 (Reuters) - The U.S. Federal Reserve said
on Tuesday it approved a merger between BB&T Corp  BBT.N  and
SunTrust Banks Inc  STI.N , sealing the biggest tie-up of banks
since the 2007-2009 global financial crisis.
    Analysts have said such a tie-up has been made possible by
regulatory easing under the administration of President Donald
Trump, which has encouraged banking regulators to take a more
relaxed approach to approving mergers, bank applications, and
when enforcing post-crisis rules.
    

 (Reporting by Katanga Johnson
Editing by Chris Reese)
 ((Katanga.Johnson@thomsonreuters.com; 202-898-8403; Reuters
Messaging: Katanga.Johnson.thomsonreuters.com@reuters.net))