Regulators Warn 5 Major U.S. Banks are Too Big to Fail

April 14, 2016 Headlines

Bank regulators have warned that five of the top eight largest U.S. banks are “too big to fail,” meaning taxpayers would need to bail them out again in the event of another financial collapse. The Federal Reserve and FDIC said JPMorgan Chase, Bank of America, Wells Fargo, State Street and Bank of New York all lacked “credible” plans to enter bankruptcy in the event of a financial crisis. The warnings echo calls by Bernie Sanders to break up the big banks, a plan criticized by his rival, Hillary Clinton. The biggest banks are even bigger now than before the 2008 meltdown.

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