Hoenig describes idea to break up largest banks

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In his first public speech since winning Senate confirmation as a director to the Federal Deposit Insurance Corporation, Tom Hoenig once again called for the country's largest banks to be broken up into smaller entities. Speaking at the Iowa Division of Banking's Day with the Superintendent on April 26 in Des Moines, the former president of the Kansas City Federal Reserve Bank said the largest banks should be broken up along business lines.

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