WASHINGTON, Sept 13 — US bank groups yesterday accused the Federal Reserve and other regulators of violating federal laws with a sweeping proposal to raise capital requirements,...
WASHINGTON, Sept 13 — US bank groups yesterday accused the Federal Reserve and other regulators of violating federal laws with a sweeping proposal to raise capital requirements, escalating an assault on the draft rules that were also blasted by bank executives.
The Fed drafted the rules with the Federal Deposit Insurance Corp and Office of the Comptroller of the Currency . The Fed and OCC declined comment, while the FDIC did not immediately respond to a request for comment. JPMorgan CEO Jamie Dimon launched a broadside against the proposal on Monday, saying it could prompt lenders to pull back and that regulators had acted with “lack of transparency” about the rationale for the changes.
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