"Federal Reserve Chair Powell Plans Major Overhaul of Bank Capital Rules"

Federal Reserve Chair Jay Powell surprised Wall Street by indicating a potential retreat on proposed banking rules that would require larger banks to increase their capital reserves. The rules, known as the "Basel III Endgame," have faced opposition from bank CEOs, industry lobbyists, and lawmakers who fear the impact on lending and potential financial crises. Powell's comments suggest that the proposed rules may be scaled back or reworked, signaling a significant shift in bank regulation.