, Columnist
Barr’s Battle Over US Bank Capital Rules Looks Lonely
Industry pushes back amid the backdrop of a presidential campaign.
Michael Barr, vice chair for supervision at the US Federal Reserve, face tough opposition
Photographer: Al Drago/Bloomberg
This article is for subscribers only.
Banks are never fans of tougher regulation, but they really don’t like the overhaul of US capital rules proposed at the end of July by the Federal Reserve and other finance authorities. Lenders and their lobbyists have come out fighting.
It’s not just the potential costs or extra capital demands they hate: There is plenty of negotiating room around those. They also claim a lack of analytical justification for the changes, that some rules are incoherent and that regulators are overriding Congress.