Big isn’t bad, banks tell Fed

WASHINGTON (Reuters) – The largest U.S. banks are accusing the Federal Reserve of attempting to misuse its new regulatory powers to shrink financial giants under the misguided belief that “big is bad.” Lobbying groups representing the big banks are pushing back against a set of proposed rules the Fed issued in December to more closely scrutinize the firms and rein in their risk taking after the 2007-2009 financial crisis. …

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