A broad, and unexpected, coalition has come out in opposition to US regulators' plan to increase capital requirements for big banks. The proposal, published in July 2023, aims to bolster resilience following the "banking turmoil" of Spring 2023. It has faced criticism from both sides of the political aisle as the comment period came to an end last week.
Unsurprisingly, banks and their advocates have strongly opposed the plan. However, congressional Democrats and civil rights groups have also expressed concerns, arguing that it may hurt American competitiveness and exacerbate the racial homeownership gap.
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