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Elizabeth Warren to regulators: Stop "rubber-stamping" bank mergers [View all]
https://www.journalnow.com/business/elizabeth-warren-to-regulators-stop-rubber-stamping-bank-mergers/article_0196a595-d175-55cc-9a86-3d2092d1de39.html...
Warren and Rep. Jesús “Chuy” García, D-Ill., are co-sponsors of the “Bank Merger Review Modernization Act.”
The bill sponsors said their legislation “would have prevented the BB&T-SunTrust merger,” although some analysts say their too-big-to-fail concerns are misplaced with Truist.
The bill would have four main goals:
- Guaranteeing that a large-scale banking merger is in the public interest;
- Safeguarding the stability of the nation’s financial system;
- Examining the anticompetitive effects on banking products, such as commercial deposits, home mortgage lending and small business lending; and
- Ensuring that the merged bank has adequate financial and managerial resources.
“It’s time to stop rubber-stamping bank mergers at the expense of consumers, communities, workers and the financial system,” the co-sponsors said. ...
Warren and Rep. Jesús “Chuy” García, D-Ill., are co-sponsors of the “Bank Merger Review Modernization Act.”
The bill sponsors said their legislation “would have prevented the BB&T-SunTrust merger,” although some analysts say their too-big-to-fail concerns are misplaced with Truist.
The bill would have four main goals:
- Guaranteeing that a large-scale banking merger is in the public interest;
- Safeguarding the stability of the nation’s financial system;
- Examining the anticompetitive effects on banking products, such as commercial deposits, home mortgage lending and small business lending; and
- Ensuring that the merged bank has adequate financial and managerial resources.
“It’s time to stop rubber-stamping bank mergers at the expense of consumers, communities, workers and the financial system,” the co-sponsors said. ...
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More about this, which was announced a couple days ago: https://chuygarcia.house.gov/media/press-releases/representative-garc-and-senator-warren-announce-introduction-bank-merger-review
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Elizabeth is not only campaigning for President. She is continuing to work at her "day" job.
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