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Category: Banking

The Federal Reserve and OCC Should Follow the “Jamie Dimon Rule” and Stop Rubber Stamping Too-Big-To-Fail Bank Mergers Without Resolution Plans

WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President, and CEO, issued the following statement in connection with the banking agencies’ hearing on Thursday on TD Bank’s application to acquire First Horizon to create the 8th largest bank in the U.S., as detailed in this Better Markets’ letter: “JPMorgan Chase CEO Jamie Dimon was ferociously adamant that all banks, […]

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The Criminal Conviction of Two JPMorgan Chase Officers Could Be a Gamechanger Signaling the Beginning of the End to the Wall Street Crime Spree

WASHINGTON, D.C.— Dennis Kelleher, Co-Founder, President, and CEO, issued the following statement on the jury verdict convicting two JPMorgan Chase officers of criminal conduct: “Today’s jury verdict convicting two officers of JPMorgan Chase for crimes in manipulating the precious metals markets should signal to Wall Street’s biggest financial firms and executives that they are not […]

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Fed Stress Capital Buffers for Large Banks Fail to Ensure Large Banks Have Enough Capital at a Time of Stress and Uncertainty

WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy at Better Markets, released the following statement in response to today’s Federal Reserve release of stress capital buffer requirements for the largest banks: “At a time of heightened risks to the economy, skyrocketing inflation, and extreme uncertainty, the Federal Reserve’s stressed capital buffers (SCBs) that were released today […]

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Everything You Need to Know About the Federal Reserve Trading Scandal

Exposing Pandemic Profiteering at American’s Central Bank, Leadership Failures & Cover Up As hundreds of thousands of Americans were dying and tens of millions were being thrown out of work due to a catastrophic pandemic that gripped the country with fear, some of the most senior officials at the U.S. central bank – the Federal […]

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The Federal Reserve’s Stress Tests Are Too Stress-less When All Too-Big-To-Fails Banks Always Pass, Even at a Time of Extreme Stress Like Now

WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy, issued the following statement on the Federal Reserve’s release of the results of its 2022 Dodd-Frank Act stress test: “Despite a heightened, near-unprecedented combination of simultaneous shocks and risks to the economy and the financial system — from a pandemic and war to skyrocketing inflation and speculative financial […]

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FDIC Takes Important Step Towards Managing Climate-Related Financial Risks

WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy, issued the following statement on the filing of Better Markets comment letter to the Federal Deposit Insurance Corporation (FDIC) on their request for comments regarding its proposed principles for climate-related financial risk management for large banks. “We applaud the FDIC for incorporating climate-related financial risks into its risk management expectations […]

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FDIC Must Work with the Other Banking Agencies to Strengthen the Insufficient Bank Merger Review Process

WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy, issued the following statement on the filing of Better Markets comment letter to the Federal Deposit Insurance Corporation on their request for information and comment on ways in which the review of bank mergers could be enhanced. “Federal banking regulatory agencies and the Department of Justice must work together to […]

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