Economy

Lawmakers press Fed on plans for new rules on megabanks

By Joseph Lawler
Published August 16, 2016 8:40pm ET
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Lawmakers press Fed on plans for new rules on megabanks
The Federal Reserve's plans for subjecting U.S. megabanks to special new capital requirements would be toughest on JPMorgan Chase, which would face the largest additional required capital. (AP Photo/Seth Wenig, File) | Seth Wenig

Republicans are weighing in against the Federal Reserve’s plans for subjecting U.S. megabanks to special new capital requirements, claiming that the move would be arbitrary and hurt financial markets.

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Congress Federal Reserve Finance Janet Yellen Joseph Lawler Minusextra