Commentary by Forum President and CEO Rob Nichols: The facts make clear that, in the U.S., the era of "too big to fail" is fading into the rearview mirror. For the U.S. economy to work its best, we need a vibrant and diverse banking sector that includes large global banks, regional banks and community banks. Banks today are safer, sounder, more secure, transparent, accountable and performing their critical roles in the global economy. Rather than picking winners and losers, we need to support a system that works for everyone.
Earlier this week, the Wall Street Journal reported that, according to FDIC figures, the number of federally insured depository institutions fell to 6,891 in the third quarter, after falling below 7,000 last summer for the first time since the FDIC began counting banking companies in 1934. Most of the decline has been in banks with total assets of less than [...]