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 powell, business news, investment strategy, politics, breaking news: politics, jpmorgan drn, breaking news: markets, jamie dimon, elizabeth warren, banks, breaking news: investing, business,
Source: https://www.cnbc.com/2024/06/18/sen-elizabeth-warren-powell-basel-iii-endgame.html