Sen. Warren raises regulatory concerns about potential large bank acquisitions
U.S. Sen. Elizabeth Warren (D-MA) raised regulatory concerns about Citigroup’s potential acquisition plans. In late March, Bloomberg reported that Citi executives were hopeful to complete a major transaction. However, the bank has not made any concrete plans to move forward with any acquisition as of now. But Warren said that such a move could violate the Bank Merger Act and Bank Holding Company Act. In a letter to Citigroup CEO Jane Fraser, Warren outlined three ways that regulators mu...
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