The big four U.S. banks, including Bank of America (NYSE: BAC ) and Citigroup (NYSE: C ) , hold nearly $8 trillion worth of assets on their books. Even after regulations aimed at ending too-big-to-fail banks, many people believe more needs to be done. Unveiled this week, a new proposed tax plans aims to impose a new tax on banks that exceed a certain threshold.
In this segment of The Motley Fool's financials-focused show, Where the Money Is, banking analysts Matt Koppenheffer and David Hanson discuss the plan and the likelihood of its passing. Matt believes the tax would create a lack of transparency in the shadow banking system as banks try to reduce the amount of assets on their books.
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