Breaking up big banks would be `huge mistake,’ Mnuchin says

U.S. TREASURY SECRETARY Steven Mnuchin said neither he, nor the treasury, are not in favor of breaking up major U.S. banks as part of economic policy. Above: An aerial view of Lower Manhattan on Friday, June 19, 2015. BLOOMBERG / CRAIG WARGA
U.S. TREASURY SECRETARY Steven Mnuchin said neither he, nor the treasury, are not in favor of breaking up major U.S. banks as part of economic policy. Above: An aerial view of Lower Manhattan on Friday, June 19, 2015. BLOOMBERG / CRAIG WARGA
NEW YORK - Treasury Secretary Steven Mnuchin said breaking up the biggest banks would be a “huge mistake,” easing concerns that the Trump administration plans a major revamp of Wall Street. “We do not support a separation of banks and investment banks,” Mnuchin said Thursday at a Senate Banking Committee hearing, just weeks after President Donald…

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