The Federal Reserve unveiled plans that would massively scale back a proposal to raise capital requirements for banks after politicians and the banking industry pushed back on the initial plan, warning it could restrict lending and hurt the economy.
The new proposal would increase capital levels for big banks like JPMorgan Chase (JPM) and Bank of America (BAC) by 9% in aggregate, down by half from the original plan from more than a year ago, which set the capital increase to around 19% for those institutions.
Jennifer Schonberger & David Hollerith | Yahoo Finance