Banking Groups Push Back Against Weill's Call For Breakups

Law360, New York (July 27, 2012, 1:54 PM EDT) -- Banking industry groups on Friday waded into the reinvigorated debate over the size of U.S. banks by pushing back against former Citigroup Inc. Sanford “Sandy” Weill's call to break up the country's biggest financial institutions.

In separate releases, the Clearing House Association, an industry group representing large global banks, and the American Bankers Association touted the positives that the biggest banks provide to the economy and said that breaking them up would do further harm to the U.S.'s still-limping economy.

“Reducing the size of our largest...
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