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Fed's Michael Barr Warns Against Bank Deregulation Amid Profit Boom

Federal Reserve Governor Michael Barr issued a warning against the deregulation of U.S. banks during periods of high profitability and financial boom. He emphasized the importance of maintaining robust regulatory standards to ensure long-term stability. Meanwhile, South Korea's Financial Supervisory Service (FSS) has launched a probe into the philanthropic activities of major institutions, including Woori Financial Group and KB Financial Group.