fbpx

Reuters: White House to target bank mergers, financial data with competition order

Reuters, July 9, 2021, White House to target bank mergers, financial data with competition order

President Joe Biden’s planned executive order to promote greater U.S. competition will target bank mergers by pushing the Federal Reserve and the Department of Justice to update merger guidelines and increase scrutiny of deals, according to a source familiar with the matter.

This has led to higher fees for consumers, reduced access to banking services for communities of color and low-income working families, and increased concerns about risk to the financial system, according to studies by the National Community Reinvestment Coalition.

 

 

Print Friendly, PDF & Email
Scroll to Top