From CNBC: 2024-06-18 09:08:18

Sen. Elizabeth Warren accuses Fed Chair Jerome Powell of weakening capital rules for big banks, potentially putting the financial system at risk. Warren’s letter to Powell highlights concerns that the proposed changes could benefit wealthy investors and CEOs at the expense of middle-class families. The Fed intends to respond to Warren’s letter.

Read more: Warren warns Powell against weakening Basel III Endgame regulations