WASHINGTON - A trio of U.S. banking regulators announced on Friday they were giving the public extra time to digest and provide feedback on a broad proposal to raise bank capital requirements that is already facing fierce industry pushback.
Regulators said extending the comment window for the rules would allow more time for interested parties to analyze and weigh in on the issues, and comes as banks are mounting an aggressive effort to soften or derail the proposal. Banks have argued the proposal is onerous and unnecessary. Firms have warned the proposal if finalized could force them to curtail lending, curb product offerings, and lead to economic harm.
Banks had previously complained that the Fed had conducted insufficient analysis before proposing the rules, which would violate the Administrative Procedure Act that lays out legal requirements for issuing new federal rules.Indian-born Canadians and their family members are lining up around the clock in Brampton for a chance to get a piece of government ID — one they didn't need until a few weeks ago — that will allow them to travel home.