WASHINGTON—House lawmakers came down hard on a top federal bank regulator Wednesday over concerns that the plunge in new bank approvals is fueling greater risk in the traditional banking system. Lawmakers said the trend is alarming because consumers have less access to a community bank as a result of consolidation within that industry sector and few new banks have been approved. The result, they said, is that the largest banks could...

Source: Wall Street Journal July 13, 2016 21:00 UTC