Waters Statement on Proposed SunTrust/BB&T Merger
Washington DC, February 7, 2019
Today, following the announcement that SunTrust and BB&T plan to merge, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, made the following statement:
“Last Congress, I and other Democrats warned that S.2155, which Republicans claimed to be a bill to benefit community banks, was in fact a broader deregulatory giveaway to large banks that would fuel mergers, accelerate industry consolidation, and make it more difficult for community banks to compete. Nonetheless, Republicans pushed the bill through and it was signed into law.