Business Commons^™

Thrift Competition And Its Impact On Financial Institution Mergers And Acquisitions In The Richmond, Virginia Rma, Kenneth W. Vance

Master's Theses

Commercial banking has been subject to antitrust review for only a few decades. In 1948, the Transamerica Corporation was charged by the Board of Governors of the Federal Reserve System with a violation of Section 7 of the Clayton Act when it acquired controlling interest in several independent banks in California ⁽¹⁾. At the time of the acquisitions, the banks in question were in direct competition with one or more oof the banks already controlled by Transamerica Corporation. Moreover, Transamerica Corporation held a major interest in Bank of America. This unique case ignited a fear of probable banking concentration …