JPMorgan Chase’s Dimon urges banks ‘to fight back’ against regulations: reports

Banks are awaiting new proposals for the so-called Basel III capital endgame, and the “devil is in the details, Dimon was quoted as saying. US regulators in July 2023 proposed aligning their regulations to Basel Committee on Banking Supervision’s to help the banking industry absorb economic shocks better.

Michael Barr, the Federal Reserve’s regulatory chief, last month detailed a plan to increase bank capital 9%, down from an initially planned 19% raise. However, CFPB Director Rohit Chopra, who is also a member of the FDIC board, has said he favors a revised proposal while the Office of the Comptroller of the Currency has said it is in favor of a new proposal.

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