US needs to change bank takeover rules, FDIC official says

Rohit Chopra criticises SF Fed over bank linked to Sam Bankman-Fried firms


US regulations on mergers and acquisitions for banks should be amended, Rohit Chopra, a director of the Consumer Financial Protection Bureau, said on April 25.

Chopra strongly criticised how the Federal Reserve Bank of San Francisco had handled the takeover of a bank by companies linked to Sam Bankman-Fried. A US court found Bankman-Fried guilty of seven counts of financial crimes, and in March sentenced him to 25 years’ imprisonment.

“Many of our discretionary rules just don’t make sense,” Chopra

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account