Recently, multiple stakeholders warned that the impact of Washington's capital regulation plan—known as Basel III Endgame—has been gravely underestimated.

• Financial Services Forum, American Bankers Association, Bank Policy Institute, and Securities Industry and Financial Markets Association noted that capital requirements would increase by 30%, significantly more than government projections, in a letter to banking regulators: "An analysis by the Forum shows that the Proposal would increase capital requirements for U.S. GSIBs by more than 30 percent, while increasing risk weighted assets by more than 33 percent, dramatically more than the Agencies' estimates described in the preamble to the Proposal."
• The Business Roundtable voiced concern that the impact of the rule has been underestimated: "The impact of this proposal is understated and will impede the ability of America's banks to provide a range of critical financial services to Business Roundtable member companies, reducing both innovation and economic growth."

Regulators need to go back to the drawing board to ensure that hard working Americans will not be paying the price for Washington's proposed capital regulation plan.