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Sen. Warren warns Powell against weakening banking regulations: ‘Do your job’ - TL;DR CNBC

Sen. Warren warns Powell against weakening banking regulations: ‘Do your job’

Publishing timestamp: 2024-06-18 09:43:04


Summary

Sen. Elizabeth Warren accuses Fed Chair Jerome Powell of doing the financial industry's bidding by considering changes to Basel III Endgame regulations that would increase capital requirements for large American banks. Warren criticizes Powell for potentially delaying and watering down the rules after lobbying efforts from bank CEOs. Warren urges Powell to allow a vote on the original, tougher Basel proposal by the end of the month to prevent another financial crisis.


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Keywords: jerome powellbusiness newsinvestment strategypoliticsbreaking news: politicsjpmorgan drnbreaking news: marketsjamie dimonelizabeth warrenbanksbreaking news: investingbusiness

Source: https://www.cnbc.com/2024/06/18/sen-elizabeth-warren-powell-basel-iii-endgame.html


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