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Why The U.S. Has 4,500 Banks And Canada Has 79
Posted
August 28, 2025
Views
371,207
Likes
5,376
Comments
850
Engagement
1.68%
August 28, 2025
371,207
5,376
850
1.68%
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12:32Now PlayingCanada has 79 banks in contrast to America’s nearly 4,500. But the U.S. banking industry is shrinking, with the number of FDIC-insured banks in the U.S. down by nearly half since 2005. Canada’s banking industry shows that concentration and simplified regulation can lead to a more stable financial system. Yet experts warn that consolidation in the U.S. could stifle innovation, reduce competition, hurt small businesses, create more banks that are too big to fail, and have negative consequences for the economy at large. Watch the video above to learn more about why America's banking industry is shrinking and what the U.S. can learn from Canada's more concentrated system.
Chapters
Produced and Edited by: Macklin Fishman
Animation: Emily Park, Jason Reginato
Senior Director of Video: Lindsey Jacobson, Jeniece Pettitt
Additional Footage: Getty Images
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Why The U.S. Has 4,500 Banks And Canada Has 79
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