Janet Yellen Tells Bank CEOs that More Mergers May Be Necessary
In a meeting that took place on Thursday, US Treasury Secretary Janet Yellen told various bank CEOs that more mergers may be necessary for the health of the industry. Moreover, CNN reported that Yellen’s statement was made regarding the health of the banking sector amid the ongoing crisis The statements signify that both Yellen and the Biden administration have observed the merits of more potential mergers. Specifically, the industry is seeking to recover from the largest bank collapse since the financial crisis of 2008. JUST IN: Treasury Secretary Janet Yellen tells bank CEOs more mergers may be necessary. — Watcher.Guru (@WatcherGuru) May 19, 2023 Yellen Prepares Banks for Possible Mergers In a meeting that took place on Thursday, US Treasury Secretary Janet Yellen spoke to various bank CEOs about the potential need for more mergers. Specifically, the statement arrived in response to the banking crisis that has threatened the industry for much of the year. Fal...