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US Fed's Barr says no evidence two big banks politically 'debanking' customers

By Neil Roland ( February 19, 2025, 23:27 GMT | Insight) -- Michael Barr, who will be stepping down as the US Federal Reserve’s top regulator at the end of the month, said he has seen no evidence for US President Donald Trump’s claim that the two largest US banks are excluding conservative customers for political reasons. “I haven't seen any evidence of that kind of activity,” said Barr, who has been the Fed’s vice chair for supervision and regulation since July 2022.“I haven't seen the kind of thing that ... suggested that actually, the regulations that are put on the banks, in some ways, have required the banks to not do business with certain folks.”Michael Barr, who will be stepping down as the US Federal Reserve’s top regulator at the end of the month, said he has seen no evidence for President Donald Trump’s claim that the two largest US banks are excluding conservative customers for political reasons....

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