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Michael Hsu: Have Banks Become Too Big?

Michael Hsu: Have Banks Become Too Big?

by Starling Insights

Starling Insights Editorial Board

Jul 18, 2023

Observations

Too Big to Manage?Culture for Regulators Culture & Consequences The Costs of Misconduct The Era of Accountability

In a recent interview with the Wall Street Journal's Risk & Compliance Journal, US Acting Comptroller of the Currency Michael Hsu expressed concerns that some US banks had become "too big to manage," stating that they must demonstrate their ability to address risk management issues or face potential breakup.

According to Hsu, the burden falls on the banks themselves to prove their viability by resolving long-standing problems. "What we've experienced is that some large banks can't do that well," Hsu said. "That's a sign that management either needs a new strategy, or there needs to be new management, or if neither of those works, the firm needs to be simplified."

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