Big banks Citigroup and Wells Fargo are the only U.S. giants with room to snap up regional rivals, thanks to relaxed regulations and their ability to stay under the 10% national deposit cap. While Wells Fargo’s CEO hints at a “transformative deal,” Citigroup’s leadership leans toward organic growth. Despite easier merger paths, North American bank merger value dropped this year—maybe because profits are strong and there’s no rush to buy. Looking ahead, experts predict 1-3 new megabanks by 2030, as regional banks shrink from 49 to around 30. The race is on—but strategy, not speed, may win.
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