Wall Street Banks Clash Over Fed Capital Rules
JPMorgan and Bank of America are feuding with Goldman Sachs and Morgan Stanley over a proposed Fed capital rule tweak. The change could cost the largest lenders billions while benefiting their trading-focused rivals.
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JPMORGAN CHASE & CO and BANK OF AMERICA CORP are clashing with rival lenders over a Federal Reserve capital surcharge overhaul in the United States, leaving billions of dollars at stake. The feud shatters a long-standing Wall Street alliance that spent years fighting together to ease capital requirements. The outcome will reshape lending capacity and shareholder payouts across the country's largest financial institutions.
