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Fed Chairman Concerned Over Shrinking Bank Market

PYMNTS

As concerns are raised about how industry consolidation might impact competition, Federal Reserve Chairman Jerome Powell is warning that it could hinder small businesses’ access to capital and financial services. “The loss of the branch often meant more than the loss of access to financial services. .”

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Transcript: Rick Rieder

Barry Ritholtz

In fact, I was going to be a strategist, financial analyst to work for a bank and write research reports. RITHOLTZ: Was this a distressed acquisition or — RIEDER: It was. And they took two of us, and I’m not sure how I made it through the strainer. He helps to oversee $2.5 trillion in various investments.