Bank CEOs have said the Basel III Endgame capital increases are unnecessarily aggressive and would force the industry to curtail lending.
Sen. Elizabeth Warren is accusing Fed Chair Jerome Powell of doing the financial industry's bidding in considering changes to Basel III Endgame regulations.
Bank CEOs and their lobbying groups have said the increases are unnecessarily aggressive and would force the industry to curtail lending. "I am disappointed by press reports indicating that you are personally intervening—after numerous meetings with big bank CEOs—to delay and water down the Basel III capital rules," said Warren, D-Mass.the proposed rules, a long-expected regime shift around bank capital and risky activities like trading and lending. The regulations incorporate new international standards created as a response to the 2008 global financial crisis.
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