Washington is locked in a high-stakes duel over the future of American banking. On July 21, leaders of the House Financial Services Committee—including Chairman French Hill and Subcommittee Chairman Andy Barr—pressed the Federal Reserve to end bureaucracy and expedite bank acquisition reviews. In opposition, activists are weaponizing regulatory “adverse comments” to block non-traditional lenders from securing bank charters. Meanwhile, the real victims are the 19 million underbanked American households left with fewer choices and tighter credit.
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