New Bank Capital Rules Will Yield ‘Harmful Outcomes,’ JPMorgan Chief Tells Senate

Several bank CEOs warned that all U.S. households would be negatively impacted by higher capital standards imposed on lenders.
New Bank Capital Rules Will Yield ‘Harmful Outcomes,’ JPMorgan Chief Tells Senate
JPMorgan Chase CEO Jamie Dimon in Washington on April 9, 2019. Jeenah Moon/Reuters
Andrew Moran
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The federal government’s new capital requirements on financial institutions could be “harmful” to the U.S. economy, CEOs of some of the largest banks in America told lawmakers on Capitol Hill.

Several Wall Street executives, including JPMorgan Chase CEO Jamie Dimon, warned the Senate Banking Committee on Dec. 6 that capital mandates and a suite of other rules and regulations considered by regulators could negatively affect lending and capital markets, leading to trouble in the broader economic landscape.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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