White House Proposes Tougher Bank Rules, New Tests After Crisis
- New focus on banks with $100 billion to $250 billion in assets
- White House says deregulation of banking industry went too far
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President Joe Biden’s administration is pressing regulators to tighten the rules for mid-sized banks, its strongest step yet in response to the banking crisis that led to the failure of a pair of regional lenders.
The White House on Thursday called for federal banking agencies, in conjunction with the Treasury Department, to enact a series of changes. None of the measures requires Congressional approval, the White House said in a statement, though it’s not clear if regulators will enact them.