There is a widespread, ongoing debate regarding the Biden administration's proposed changes to bank capital requirements. In the US Congress, criticisms have come from both sides of the political aisle.
Many Republicans have echoed those in the banking industry who have expressed concern that the proposed capital buffer increases will hamper economic competitiveness, and cause harm to consumers and small businesses through reduced credit creation. In a recent letter to the leadership of the US Federal Reserve, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency, all 29 Republicans Members of the House of Representatives Financial Services Committee called upon the regulators to rescind the proposed changes.
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