WASHINGTON — Senator Elizabeth Warren plans to introduce a bill in coming weeks that would intensify the scrutiny of bank mergers, a signal less of legislative action to come than of her intentions for the finance industry if she is elected president. But its argument that the “review process for bank mergers is fundamentally broken” indicates that Ms. Warren, Democrat of Massachusetts, still has the financial industry in her sights. And it would require the Consumer Financial Protection Bureau, which Ms. Warren helped create, to approve any merger in which one of the banks offers consumer financial products. The proposal is the latest sign that if Ms. Warren wins the White House, her victory could usher in a new era for the rules that govern banking. The changes have jibed with the Trump administration’s broader push for a lighter-touch government.

Source: New York Times December 04, 2019 12:01 UTC