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Warren calls on Fed to break up ‘ungovernable’ Wells Fargo

By Zach Halaschak
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Warren calls on Fed to break up ‘ungovernable’ Wells Fargo

Sen. Elizabeth Warren called on the Federal Reserve to break up Wells Fargo, one of the largest banks in the world.

In a Tuesday letter sent to Fed Chairman Jerome Powell, the Massachusetts Democrat urged the Federal Reserve’s leadership to use its authority to revoke Wells Fargo’s status as a financial holding company and separate its banking subsidiary from its financial services business.

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Banks Congress Elizabeth Warren Federal Reserve Finance Jerome Powell