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WASHINGTON, Dec 4 (Reuters) - The top bosses of JPMorgan, Bank of America, Citigroup, Wells Fargo and other major banks are expected to warn lawmakers this week that capital hikes and other new regulations will hurt the economy and should be indefinitely shelved.
But they will also have to persuade skeptical lawmakers, including the Committee's Democratic chair Sherrod Brown, that the banking sector is safe and sound following the collapse of Silicon Valley Bank and two other lenders earlier this year.
"My commitment as chair of this committee is to always put the Main Street economy – and the workers who power it – at the center of everything we do," Brown said in a statement.
"It's our job to hold them accountable to their workers, to their customers, and to the American people."
https://www.reuters.com/business/fi...t-regulation-push-before-congress-2023-12-04/
How many billions of dollars do you personally need, Mr. Dimon?
But they will also have to persuade skeptical lawmakers, including the Committee's Democratic chair Sherrod Brown, that the banking sector is safe and sound following the collapse of Silicon Valley Bank and two other lenders earlier this year.
"My commitment as chair of this committee is to always put the Main Street economy – and the workers who power it – at the center of everything we do," Brown said in a statement.
"It's our job to hold them accountable to their workers, to their customers, and to the American people."
https://www.reuters.com/business/fi...t-regulation-push-before-congress-2023-12-04/
How many billions of dollars do you personally need, Mr. Dimon?