Bank CEOs ask Congress to loosen capital requirements

Ben Bradford Apr 11, 2019
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CEO of Citigroup, Michael Corbat (L), chairman and chief executive of JPMorgan Chase, Jamie Dimon (2ndL) and others are sworn in to testify before the House Financial Services Committee on accountability for mega banks on Capitol Hill in Washington, DC on April 10, 2019. Mandel Ngan/AFP/Getty Images

Bank CEOs ask Congress to loosen capital requirements

Ben Bradford Apr 11, 2019
CEO of Citigroup, Michael Corbat (L), chairman and chief executive of JPMorgan Chase, Jamie Dimon (2ndL) and others are sworn in to testify before the House Financial Services Committee on accountability for mega banks on Capitol Hill in Washington, DC on April 10, 2019. Mandel Ngan/AFP/Getty Images
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For the first time since the financial crisis, the CEOs of the largest US banks testified to the House Financial Services Committee. James Gorman of Morgan Stanley, Jamie Dimon of JPMorgan Chase and Bank of America’s Brian Moynihan asked Congress to lower the high capital requirements. They say the rules, put in after the financial crisis, stifle lending.

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