The U.S. Federal Reserve on Thursday unveiled a final package of rules easing ca...
), among others, mark another win for the industry after the Fed also relaxed rules on derivatives trades and banks’ annual health checks.
That 2018 law ordered the Fed to reduce the burden on community and regional lenders, but progressive Democrats and consumer groups are likely to criticize the central bank for giving larger banks too much leeway with its final changes. But Governor Lael Brainard voted against the easier rules, saying in a statement they go beyond the law passed by Congress and would “weaken the safeguards at the core of the system before they have been tested.” Brainard has regularly opposed recent efforts at the Fed to ease bank rules.
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