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      U.S. Sen. Elizabeth Warren (D-Mass.) speaks during a Senate Banking Committee hearing on Capitol Hill on June 13, 2023 in Washington, D.C.

      Warren to Regulators: Enough With Mergers Making 'Too-Big-to-Fail' Banks Even Bigger

      "The recent bank crisis underscores the urgency of strengthening the merger review process and reversing the dangerous trend of bank consolidation."

      Jessica Corbett
      Jun 27, 2023

      In the wake of three recent bank failures, U.S. Sen. Elizabeth Warren on Tuesday urged financial regulators to promote competition rather than further consolidation in the industry and improve merger guidelines.

      The Massachusetts Democrat's call for action came in a letter to Assistant Attorney General Jonathan Kanter, Federal Deposit Investment Corporation (FDIC) Chairman Gruenberg, Acting Comptroller of the Currency Michael Hsu, Federal Reserve Vice Chair for Supervision Michael Barr, and Treasury Secretary Janet Yellen.

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      U.S. Sen. Elizabeth Warren

      Challenging First Republic Bank Sale, Warren Says JPMorgan Chase Is Big Enough

      "The single biggest threat to the U.S. banking system is more concentration," said the Massachusetts Democrat. "A bank as big as JPMorgan shouldn't be allowed to get even bigger."

      Jessica Corbett
      May 18, 2023

      U.S. Sen. Elizabeth Warren raised alarm about the recent sale of First Republic Bank to JPMorgan Chase—which followed a government takeover of the former—in a letter to financial regulators and a series of questions during a Thursday hearing.

      "The failure of First Republic Bank shows how deregulation has made the too-big-to-fail problem even worse," the Massachusetts Democrat said after the controversial sale earlier this month. "Congress needs to make major reforms to fix a broken banking system."

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