Elizabeth Warren earlier this month sent a letter to Federal Reserve and the FDIC, questioning regulators' approval of the largest bank deal since the financial crisis.
"Countrywide was a $200 billion institution when it failed. Washington Mutual was $307 billion. Their failure presented material risks to the financial system. Why does the Fed believe that the failure of a $450 billion institution would not present risks to the financial system?" asked Warren and the letter's co-author, Rep. Jesús García, D-Ill. The two asked the same question of the FDIC.
The letter, dated Dec. 12, comes weeks after Warren and Garcia introduced their Bank Merger Review Modernization Act to tighten oversight of America's bank deal approval process. The two have argued that, if the act had been passed prior to the Truist deal, it would have been blocked. Though unlikely go past a Republican-controlled Senate, the proposal puts a spotlight on the review process for banks, which Warren and Garcia decry as "fundamentally broken."
Today, all bank deals must be approved by the Fed, the FDIC and the Office of the Comptroller of the Currency. Warren and Garcia believe the agencies often review the deals with banks in secret, prior to their being announced. They also say the agencies focus too much on their impact on the industry, rather than also looking at the consumer.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Elizabeth Warren Gets Off the MatThe Plans Candidate makes the case that confronting the kind of big shots who donate to her rivals is a matter of economic necessity, not personal enmity.
続きを読む »
Elizabeth Warren: The government listens too much 'to rich guys who don't want to pay taxes'Elizabeth Warren sat down with CNBC's John Harwood to discuss her campaign, her vision for remaking American capitalism and impeaching President Trump.
続きを読む »
Elizabeth Warren Doubles Down on Economy in a Bid to Rejuvenate CampaignDemocratic presidential candidate Elizabeth Warren is trying to get back to talking about increasing economic opportunities and programs for the middle class, after scrutiny over Medicare for All blunted her momentum in the 2020 race.
続きを読む »
Elizabeth Warren is now the lone female candidate at the top of the 2020 field, and she wants you to know itElizabeth Warren stands as the lone female candidate at the top of the Democratic field. These days the 70-year-old senator appears increasingly comfortable — sometimes even determined — to remind voters of her unique standing in the race.
続きを読む »
'Let's make that the law': Elizabeth Warren challenges Jamie Dimon and Business Roundtable over accountable capitalism pledgeSen. Elizabeth Warren took Jamie Dimon and the Business Roundtable to task over the business association's August commitment to 'redefine' the purpose of a corporation.
続きを読む »