In what would be the largest bank merger by asset and deposit volume since the financial crisis, SunTrust Banks, Inc. and BB&T Corp. recently announced they’d agreed to a $66 billion deal that would combine both companies to form the sixth-largest bank by asset size in the country.
The merger was announced two days after the Federal Reserve informed both banks they would not be required to comply with certain stress testing requirements, invoking its ability to do so for banks with less than $250 billion in assets under S. 2155.
Find out more details about the deal and what congressional hurdles could slow the closing process.