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A new report from Deloitte claims that larger banks have a oligopoly over their smaller
competitors. Deloitte representatives said the government needs to conduct an assessment
of the financial industry. They said that the government will need to take the necessary
steps to ensure smaller banks will have a fair chance of competing against their larger
competitors.
The government instituted a number of policies to encourage stability in the financial industry
in the aftermath of the global financial crisis. However, the report said that many of these
regulations have given an unfair competitive advantage to the larger banks.
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