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Tuesday, May 03rd

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You are here News Economy Just 3 ‘superbanks’ now dominate industry

Just 3 ‘superbanks’ now dominate industry

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Several of the nation's biggest banks have failed or been absorbed by healthier institutions, leaving three giant "superbanks" with an unprecedented concentration of market power: Bank of America, JPMorgan Chase and Wells Fargo.

While that may be good news for emerging giants and the failing companies they helped rescue, the new oligopoly raises troubling questions about regulation and competition, analysts and consumer advocates say.

TVNL Comment: It's all part of the plan. We have been pointing this out since the 90s.

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