Fed's Powell says central bank will investigate debanking issue
ReutersFeb 11, 2025 4:29 PM
By Michael S. Derby
NEW YORK, Feb 11 (Reuters) - Federal Reserve Chair Jerome Powell said Tuesday the central bank would look into Republicans' concern that some people are being deliberating kicked out of bank accounts due to political considerations.
"I am struck and my colleagues are struck by the growing number of cases of what appears to be debanking and we’re determined to take a fresh look at that," Powell said before a Senate panel.
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