U.S. banks' benefits from being "too big to fail" will be examined by congressional watchdogs in response to a bipartisan request from senators who say the government hasn't done enough to prevent future bailouts.
The Government Accountability Office said today that it plans to study the "economic benefit" banks such as JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. in response to a request from Senators David Vitter, a Louisiana Republican, and Sherrod Brown, an Ohio Democrat.
Vitter and Brown made the request that the GAO look at bank holding companies with assets more than $500 billion after leaders in the Republican-controlled House refused to take up their Senate bill, which passed unanimously.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
