Over the past half-decade, banking regulators and the Department of Justice have approved the mergers of E-Trade and Morgan Stanley, BB&T and SunTrust, and PNC and BBVA to create what are now the sixth-, ninth- and 10th-largest bank holding companies in the United States.
However, while these banks’ potential impacts on financial stability has increased with their larger footprints, it is unclear what financial services these merged banks — with consolidated assets of $541 billion to $1.1 trillion — can offer that their pre-merger components could not.
The above excerpt was originally published in American Banker. Click here to view the full article.
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Director, Financial Regulation and Corporate Governance