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TOKYO (AP) - A Japanese parliamentary committee approved bills Monday that would create the world's largest bank by privatizing the state-run postal system, which handles trillions of dollars in savings and insurance deposits.
Some 3,000 postal workers rallied in downtown Tokyo to protest the bill, which they say will put their jobs in jeopardy. Other critics fear the bank created by the project would drive existing private banks out of business and reduce postal services to rural areas.
The special committee endorsed the legislation with a vote of 25-19, allowing it to go before the full lower house of Parliament as early as Tuesday.
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