In a statement, FTC Bureau of Competition Acting Director Holly Vedova said, “As the CEO of one of America’s largest banks, Richard Fairbank repeatedly broke the law. here is no exemption for Wall Street bankers and powerful CEOs when it comes to complying with our country’s antitrust laws.”
The DOJ’s Antitrust Division filed the civil antitrust complaint against Fairbank at FTC on behalf of the United States government. The Justice Department also filed the proposed settlement subject to approval by the U.S. District Court for the District of Columbia.
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