New FDIC Capital Rules Unfair To Small Banks, Reps. Say

Law360, New York (March 20, 2013, 3:05 PM EDT) -- Federal Deposit Insurance Corp. rules designed to implement internationally agreed capital standards will place unfair burdens on community banks, running a serious risk of putting many of those banks out of business, a bipartisan group of lawmakers said Wednesday.

At a hearing of the House Financial Services Financial Institutions and Consumer Credit subcommittee, Rep. Gregory Meeks, D-N.Y., said the application of increased capital requirements and other provisions of the Basel III international banking accords to community and other smaller banks will be unfairly “one size fits...
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