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Fed sets limits on biggest banks' loans to each other
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Trade Publication Article
Fed sets limits on biggest banks' loans to each other
2018
Overview
Money TALKS WASHINGTON (AP) The Federal Reserve has set limits aimed at addressing one of the leading causes of the 2008 financial crisis the buildup of loans extended by one bank to another among the biggest Wall Street institutions. The Fed oversees Wall Street titans such as JPMorgan Chase & Co., Goldman Sachs & Co., Bank of America Corp. and Citigroup Inc. The banks are considered to be so huge and interconnected that each could threaten the financial system if it collapsed. The Trump administration has sharply scaled back the authority and reach of the Consumer Financial Protection Bureau, which was established to safeguard consumers against abuses by credit, card issuers, payday lenders, mortgage servicers and debt collectors.
Publisher
MCC Magazines, LLC d/b/a Alaska Magazine
Subject
