4 May 2023
Not everyone was happy with the fact that it was JPMorgan who won the bid, however, as it means that the country’s largest, most powerful bank would become even bigger. Moreover, every failed bank that falls into the hands of the industry’s giants contributes to the decades-long consolidation trend in the banking sector, a trend that saw the number of U.S. banks States shrink drastically from its peak in the early 1980s