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Fed Approves Morgan Stanley Acquisition of E*Trade

The Fed’s order allows the companies’ banking operations to merge.

Morgan Stanley has received Federal Reserve approval for its acquisition of discount brokerage E*Trade Financial Corp., the U.S. central bank said in a statement on Wednesday. The Fed’s order allows the companies’ banking operations to merge.

At the same time, Fed approved Toronto-Dominion Bank’s acquisition of an ownership stake in the Charles Schwab Corp.

TAGS: Industry
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