visimoney
An unlikely coalition of banks, community groups, and racial justice advocates is voicing their opposition to federal regulators’ proposal to increase capital requirements for big banks. The regulators argue that the proposed rules would bring capital requirements for banks in line with international standards and help prevent another financial crisis. However, banks and their allies argue that holding more capital will restrict lending and hinder economic growth. The proposal has garnered criticism from unexpected groups, such as pension funds and green energy organizations, who are concerned about the economic implications. The proposal has also drawn opposition from liberal Democrats in Congress and nonprofits focused on closing the racial wealth gap. Despite the outcry, regulators have stated that they take the feedback seriously and will make changes to the proposal before finalizing it. While some believe that the concerns raised are valid and will lead to significant changes, others argue that the future impact of the new rules is uncertain.
