In a letter to US Federal Reserve leadership, Democrat Senators Sherrod Brown, Elizabeth Warren, Jack Reed, and John Fetterman raised concerns about the Fed's analysis of financial stability considerations when evaluating bank mergers.
"In the past, Federal Reserve orders approving mergers have contained cursory analysis and reasoning to support the determination that such mergers would not result in greater financial stability risks," they wrote to Federal Reserve Board Chairman Jerome Powell and Vice-Chair for Supervision Michael Barr.
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