Sens. Push For Tougher Capital Requirements On Banks

Law360, New York (October 17, 2012, 5:24 PM EDT) -- A bipartisan pair of lawmakers on Wednesday urged three major banking regulators to require tougher minimum capital standards for banks to avoid a repeat of 2008’s financial crisis, saying the proposed Basel III-based standards don’t go far enough and are too complicated.

The letter, written by Sens. Sherrod Brown, D-Ohio, and David Vitter, R-La., was addressed to the heads of the U.S. Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. It argues that the approach of both the...
To view the full article, register now.