Finance
Fed’s Relaxed Bank-Capital Plan Faces Bipartisan FDIC Pushback
- Three of five FDIC directors said to oppose revamped proposal
- Democrat Chopra joins two Republicans with major concerns
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A plan to dial back US regulators’ landmark bank-capital proposal is running into a wall of resistance at the Federal Deposit Insurance Corp.
At least three of five FDIC directors oppose the latest overhaul previewed by the Federal Reserve last week, according to people familiar with their thinking. Democrat Rohit Chopra has joined the two Republican board members, including Vice Chairman Travis Hill, against the changes, the people said.