House Lawmakers Say Basel Rules Could Shutter Small Banks

Law360, New York (February 20, 2013, 4:38 PM EST) -- A pair of senior members of the House Financial Services Committee on Tuesday urged federal banking regulators to “tailor” their final rules for implementing internationally negotiated capital demands so that they do not put regional and community banks out of business.

Rep. Shelley Moore Capito, R-W.Va., and Rep. Carolyn Maloney, D-N.Y., said the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. went too far when they extended increased capital requirements and other provisions of the Basel III international...
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