Author: fsf

A new piece in Fortune today highlights a recent analysis conducted by Dr. Randall S. Kroszner, a former Federal Reserve governor, which found that the Basel III Endgame proposal may have unintended consequences for U.S. consumers and businesses. “‘They’re getting the right input from the commentators,’ he said. ‘They had an enormous number of commentators, almost all of which had… Continue reading ICYMI: Fortune: “Top economist warns of ‘unintended consequences’ from a banking regulation that will touch every corner of the economy”

The United States Department of Agriculture released its latest Census of Agriculture last week. The report found that the number of farms in the U.S. decreased. As the remaining farmers deal with challenges including rising supply costs and labor shortages, regulation limiting farmer’s access to affordable capital is the last thing they need. The Basel III Endgame proposal would do… Continue reading Farmers can’t afford Basel III Endgame

At the American Bankers Association’s Conference for Community Bankers today, Federal Reserve Governor Michelle Bowman stated that we do not fully comprehend the full impact of Basel III Endgame. She emphasized the importance of engaging with stakeholders to fully understand the unintended consequences of the proposed rule on community banks. Here is what she said: Bowman recognizes the… Continue reading Fed Governor Bowman: Community banks should be concerned about Basel III Endgame

I wanted to make sure you saw yesterday’s coverage of the House Financial Services Committee hearing in American Banker, which underscores the lack of support for Basel III Endgame from key stakeholders. American Banker reports: “Yellen refuses to back banking agencies’ Basel play Treasury Secretary Janet Yellen pointedly refused to take a position on the bank… Continue reading During House Financial Services hearing, Yellen sidesteps Basel III Endgame

Today during a House Financial Services Committee hearing, Federal Reserve Chair Powell stated that he is open to re-proposing the Basel III Endgame rule, as he considers the nearly unanimous opposition to the proposal received during the public comment period. Chair Powell: …I’ll add that I’m confident that the final product will be one that does have… Continue reading Breaking: Re-proposing Basel III Endgame on the table, says Chair Powell

I wanted to make sure you saw yesterday’s coverage of the House Financial Services Committee hearing in POLITICO, which highlighted policymakers’ concerns with Basel III Endgame. POLITICO reports: Regulators face bipartisan Basel III concerns at House hearing Democrats express worries about impact on increased capital requirements on home and renewable energy financing. House Democrats aired concerns… Continue reading Big changes to Basel III Endgame needed to address policymaker concerns

As the Federal Reserve kicks off its two-day FOMC meeting today to discuss economic and financial conditions in the US, we wanted to highlight a few ways American consumers will be impacted by the higher capital requirements proposed by Basel III Endgame. Here are a few examples of how this proposal will harm Americans’ everyday… Continue reading Three ways Basel III Endgame will harm consumers

As you may have seen, proponents of the Basel III Endgame are seeking to justify their faltering regulation by overlooking significant and far-reaching consequences that would harm consumers, communities, and our economy at large.  For example, the idea that banks can simply shrink their dividends or share buybacks to maintain their lending activity if capital requirements increase… Continue reading Setting the record straight on Basel III Endgame

This week, consumers, nonprofits, business leaders, Members of Congress, and “Even some Fed officials” joined the chorus of Americans raising concerns about Basel III Endgame. Comment letters, speeches, and media coverage this week highlight the negative impact the proposed rule would have on the economy. What is becoming increasingly clear is that regulators need to go back to the drawing… Continue reading Week in review: More Americans speak out on Basel III Endgame