The Banks' Latest Hit Job
Tom Williams/CQ Roll Call via AP Images
Federal Deposit Insurance Corporation Chair Martin Gruenberg testifies before the House Financial Services Committee hearing on November 15, 2023.
Last July 27, the several bank regulators, after long delays and several bank failures, issued new rules on higher capital standards for banks. This means that banks must hold more of their own equity capital as a cushion against losses. The banks resisted this at every step of the way, since it cuts into …