Though the association is not close enough to the particulars of the deal to have an informed opinion about whether the acquisition should be approved or disapproved, we don't think the decision should be taken lightly.
The five big banks in this country control 90% of the banking assets. They also control a lot of financial infrastructure. They gatekeep in that financial infrastructure. Any decision that does significantly lessen rivalry between our banks will just put upward pressure on banking fees, customer service, cost of capital and all the things we need to grow the economy.