WASHINGTON: The top bosses of JPMorgan, Morgan Stanley, Goldman Sachs and other major banks warned that capital hikes and other new rules will hurt lending and the economy during a Senate hearing that was otherwise sedate compared with recent years.
The industry has been waging a fierce campaign to kill the “Basel endgame” proposal, which overhauls how banks must calculate their loss-absorbing capital, and as regulators roll out fair lending and fee cap regulations, among other rules.
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