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Vanguard takes steps to convince the government it’s not too powerful

The FDIC director says a new "passivity agreement" with Vanguard is a victory over "the concentration of power in a few institutional investors."

Officers with the Tredyffrin Township Police Department speak with protesters for environmentalist group Earth Quaker Action Team at Vanguard headquarters in Malvern in 2022. Activists have urged the second-largest investment company to divest from fossil fuels, but pro-oil, gas, and coal legislators in energy states have pressed Vanguard to keep investing in the sector.
Officers with the Tredyffrin Township Police Department speak with protesters for environmentalist group Earth Quaker Action Team at Vanguard headquarters in Malvern in 2022. Activists have urged the second-largest investment company to divest from fossil fuels, but pro-oil, gas, and coal legislators in energy states have pressed Vanguard to keep investing in the sector.Read moreAlejandro A. Alvarez / Staff Photographer