Warren's rebuke revealed a major new rift with top Biden administration officials over economic policy.
has a new warning for Treasury Secretary Janet Yellen: Stop saying it’s OK for banks to get bigger.to Yellen, top bank regulators and the Justice Department called out the Treasury secretary and Acting Comptroller of the Currency Michael Hsu for recent comments that signaled an openness to further bank consolidation amid industry weakness exposed by the meltdowns of Silicon Valley Bank and other lenders.
“Allowing additional bank consolidation would be a dereliction of your responsibilities, hurting American consumers and small businesses, betraying President Biden’s commitment to promoting competition in the economy, and threatening the stability of the financial system and the economy,” Warren wrote.
Yellen, who played a lead role in policing the banking industry when she was Federal Reserve chair, has been the most prominent Biden administration voice signaling an openness to more bank M&A. Bank lobbyists, who want the administration to loosen up on mergers, have notedBank regulators and the Justice Department — not Yellen — have the power to reject proposed bank mergers.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
De-dollarization: Janet Yellen backs buck against Brazil, South AfricaJanet Yellen hits back at de-dollarization after Brazil and South Africa challenge the greenback's dominance
Read more »
Elizabeth Warren: ‘President Biden has the legal authority to cancel student-loan debt’Over 40 million student-loan debtors now owe $1.6 trillion in outstanding loans – as the Supreme Court is set to decide whether the Biden administration’s plan to cancel the debt is legal.
Read more »
BET Awards Standout Fashion Moments From Nicki Minaj, Janet Jackson, Beyoncé and More Through the YearsWith the first BET Awards in 2001, over the years, a long list of A-list celebrities have attended the event, including Janet Jackson, Beyoncé, Nicki Minaj, and more. Here is a closer look at the fashion moments from the BET Awards throughout the years.
Read more »
Leading Democrat asks Gensler, Yellen for thoughts on Republican-led crypto billSecurities and Exchange Commission Chair Gary Gensler and Treasury Department Secretary Janet Yellen have both been called to provide analysis on a digital asset market structure bill.
Read more »
Leading House Democrat Solicits Feedback From Gensler and Yellen on Crypto BillHouse Financial Services Committee Chair RepMaxineWaters (D-Calif.) has written letters to SEC chair GaryGensler and Treasury Secretary SecYellen asking for feedback on the Republican-sponsored Digital Asset Market Structure bill. By LizKNapolitano
Read more »
Former FLDS members fear their children's disappearance is part of Warren Jeffs' prophecyNEW YORK — Lorraine Jessop's three youngest children – Nathan, Summer, and Benjamin – have been missing since Feb. 4, 2023. According to court documents, they ran away.
Read more »