US consumer organization applauds White Hause proposal for new limits on big banks

The US consumer organization, Consumers Union, today welcomed the White House proposal to limit the size and risk-taking abilities of large financial institutions. The proposal aims to prevent banks from becoming so big that they put the economy at serious risk. Gail Hillebrand, the financial services campaign manager for Consumers Union, said, "This proposal would help to protect taxpayers by ending unrestrained bank growth and risky trading. Banks should only be as big as the private capital markets can support."


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Source: Consumers Union