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Posted On: 12/07/2023 5:42:05 AM
Post# of 27260
Wall Street CEOs try to convince senators that new capital rules will hurt Americans as well as banks
PUBLISHED WED, DEC 6 20232:39 PM ESTUPDATED WED, DEC 6 20236:25 PM EST
KEY POINTS
The CEOs of eight banks sought to raise alarms over a sweeping set of higher standards known as the Basel 3 endgame.
"The rule would have predictable and harmful outcomes to the economy, markets, business of all sizes and American households," JPMorgan Chase CEO Jamie Dimon told lawmakers.
Democratic Sen. Sherrod Brown, chairman of the Senate Banking Committee, ripped the banks' lobbying efforts against the proposed rules.
In this article
PUBLISHED WED, DEC 6 20232:39 PM ESTUPDATED WED, DEC 6 20236:25 PM EST
KEY POINTS
The CEOs of eight banks sought to raise alarms over a sweeping set of higher standards known as the Basel 3 endgame.
"The rule would have predictable and harmful outcomes to the economy, markets, business of all sizes and American households," JPMorgan Chase CEO Jamie Dimon told lawmakers.
Democratic Sen. Sherrod Brown, chairman of the Senate Banking Committee, ripped the banks' lobbying efforts against the proposed rules.
In this article
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