Big banks lobby to ease capital rule, regulators signal openness to changes
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Big banks have been lobbying regulators to ease a rule requiring them to hold more capital reserves.
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Fed Chair Powell and FDIC Chair Gruenberg said this week they expect to make significant changes to the rule.
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Banks and lobbyists argue the rule could harm lending and the broader economy.
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Sen. Elizabeth Warren accused Powell of going "weak-kneed" on regulation after promising tougher oversight.
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One bank lobbyist said he was "encouraged" by Powell's openness to changing the rule.