U.S. Fed proposes rule to limit size of merged banks

[Newsjock]

Source: Reuters

The U.S. Federal Reserve on Thursday proposed a rule to limit concentration in the financial sector, a requirement of the 2010 Dodd-Frank Act to make banks safer after the crisis.

The rule would prohibit a bank merger if the new company's liabilities exceed 10 percent of the aggregate consolidated liabilities of all financial companies, the central bank said in a press release.


Read more: http://www.reuters.com/article/2014/05/08/fed-banks-rule-idUSL2N0NU1OK20140508

[arcane1]

1. Baby steps, but they are still steps!

[JDPriestly]

2. K&R. Yellin' for Yellin. Well, sort of. I don't know if she is responsible for this baby step

toward cleaning up our financial sector.

[FiveGoodMen]

3. They need to limit the size to "smaller than they already are"

[Benton D Struckcheon]

4. 10%? That's ridiculously large.

1% at the very most. There's no need whatsoever for mega banks. They serve no useful societal function at all.

[okaawhatever]

5. K & R nt

[tk2kewl]

6. 20 yrs late is better than never i guess