Sen. Warren warns Powell from weakening banking restrictions: ‘Do your job’

Sen. Warren warns Powell from weakening banking restrictions: ‘Do your job’


Crucial Details
  • Sen. Elizabeth Warren is accusing Fed Chair Jerome Powell of undertaking the economic industry’s bidding in taking into consideration adjustments to Basel III Endgame laws.
  • In a letter very first acquired by CNBC, Warren questioned Powell for a response to experiences that “you are advocating for slashing in 50 percent” the increase in money demanded under the proposals.
  • Financial institution CEOs and their lobbying teams have mentioned the increases are unnecessarily aggressive and would drive the business to curtail lending.



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