Vanguard strikes deal with FDIC over huge holdings in US banks

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Financial Times 1d ago

Vanguard strikes deal with FDIC over huge holdings in US banks - Financial Times

Quick Summary:

The FDIC and BlackRock have not said whether the money manager expects to reach a similar agreement with the regulator before the deadline.

That means Vanguard must attest that it will not seek to influence the behaviour of the bank, for instance by pushing it to lend to sustainable energy companies and not oil producers.

Vanguard has bowed to regulatory pressure and agreed to new oversight of its investments in some US lenders, a decision that could have sweeping implications for money managers and banks.