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Big Banks Push Back Against Tighter Rules

Thursday, May 9, 2013 - 1:38 PM
From Wall Street Journal:
The nation's biggest banks are going on the offensive to fend off growing efforts in Washington to rein them in.

The banks have hired longtime, influential Washington hands to deflect regulatory and political pressure to strengthen their finances and to sell assets. Regulators and some lawmakers have raised concern that large banks remain "too big to fail" and could require another government bailout in the event of a new financial meltdown.

Regulators and lawmakers increasingly are signaling that more work is needed to lessen the risk posed by large, complex banks, including bigger capital cushions and minimum amounts of expensive long-term debt.

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