FDIC Strengthens Vanguard Rules

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Reuters

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Vanguard reaches deal with US bank regulator over control of bank stakes

Summary

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U.S. Federal Deposit Insurance Corporation has reached a deal with Vanguard that will strengthen the rules under which the investment management giant can take big stakes in large financial institutions.

The agreement gives the FDIC more ability to monitor Vanguard 's investment activities and spells out what is allowed as a passive investor in FDIC -supervised banks.

Vanguard said this is in accordance with its current practices.

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