Federal Reserve Board Governor Michelle W. Bowman criticized proposed new capital requirements for banks with more than $100 billion in assets, arguing that the increases were not supported by facts and analysis and could lead to reduced credit availability and increased cost of credit.
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A bank holding company entered into a plea agreement for filing false securities statements as to its initial public offering and subsequent annual filings.
In separate hearings, the Senate Banking Committee and the House Financial Services Committee heard testimony from CEOs of the largest U.S. banks on a broad range of public policy and compliance matters.
The U.S. House Financial Services Committee heard testimony from the CEOs of U.S. global systemically important banks on "trends and developments in the industry since the 2008 global financial crisis."
The Congressional Research Service provided an overview of "selected banking-related issues that may attract congressional interest in the 117th Congress."