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Biden under pressure from progressives to end ‘rubber stamp’ on bank deals POLITICO 1 hr ago By Leah Nylen © AP Photo/Susan Walsh Sen. Elizabeth Warren, D-Mass., left, and Sen. Sherrod Brown, D-Ohio, right, walk on Capitol Hill in Washington on Feb. 11, 2021. The last time the Justice Department challenged a bank merger was in 1985, around the time that compact discs and New Coke debuted. In the 36 years since, the U.S. has shed roughly 10,000 banks some from bank failures, but most through acquisitions that regulators and antitrust prosecutors at the Justice Department have blessed. Critics say that has led to higher fees for consumers, reduced access to banking services and increased concerns about risk to the financial system.

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