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Capital Markets

@USChamberCCMC

Information, news and updates from the U.S. Chamber's Center for Capital Markets Competitiveness (CCMC)

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Great op-ed in the @delgazette from @stevestivers of the @OhioChamber on #BaselIII: “I hope that the administration and Congress will see these unintended consequences [...] and scrap the proposed Basel III Endgame banking rules." delgazette.com/2024/05/15/new…


A new @CFPB rule dictates how banks charge consumers who pay credit card bills late and would punish consumers who pay on time. Plus, it uses more than one flawed “study” to justify its rationale. Here’s what you should know: uschamber.com/lawsuits/how-g…


The @CFPB Notice of Proposed Rulemaking for Overdraft Lending: Very Large Financial Institutions is an anti-consumer measure that would restrict access to financial products and drive-up costs. More on why it should be withdrawn. uschamber.com/finance/u-s-ch…


In collaboration with four other trade associations, we're raising concerns about the Consumer Financial Protection Bureau’s (@CFPB) proposal to gather new information from automobile lenders. Read the letter: uschamber.com/assets/documen…


If the Basel III Endgame rule is implemented as proposed, without a transparent evidence-based approach, it will restrict access to loans and credit to small businesses and low- and medium-income Americans and slow the growth of the economy. uschamber.com/assets/documen…


The CFPB’s current ideological agenda and unlawful actions will ultimately hurt consumers, businesses, and our economy. To protect the choice of American consumers, @CFPB needs to be held accountable. uschamber.com/major-initiati…


ICYMI: Nearly 3 out of 4 voters prefer a candidate who says government should not tell banks who they can do business with and agree the government should instead focus on getting the best deals for taxpayers. uschamber.com/improving-gove…


We’re not opposed to disclosing material climate risks and emissions, but we need a revised approach. Our recommendation? For the SEC to craft a new rule that better aligns with the business community's needs and preserves investor confidence. uschamber.com/finance/corpor…


We filed a supplemental comment letter emphasizing the necessity of thorough economic analysis at the PCAOB, including an independent critique of the PCAOB's economic analysis demonstrating how the Board fell short in its evaluation of the NOCLAR proposal. uschamber.com/finance/u-s-ch…


We have serious concerns about the process & transparency of the Basel III Endgame rulemaking, especially given the failure to produce a timely & credible quantitative impact study to justify the proposed increase in capital requirements. Our perspective: uschamber.com/finance/u-s-ch…


Mergers help America’s next startups succeed and fuel innovation. However, the FTC’s new merger guidelines significantly lower the standards for mergers to be investigated and potentially considered unlawful. Learn more: uschamber.com/finance/antitr…


How exactly will the FTC's agenda, specifically the FTC’s and DOJ’s updated merger guidelines, protect and enhance America’s position as a global superpower? From our perspective, the facts are not on their side. uschamber.com/finance/antitr…


On March 5, the Consumer Financial Protection Bureau (@CFPB) credit card late fees rule was finalized. The legally flawed rule will limit access to affordable consumer credit. That’s why we filed a lawsuit. uschamber.com/cases/consumer…


ICYMI: The Chamber filed a lawsuit to stop the @CFPB from implementing a rule that punishes responsible credit card users who pay their bills on time. uschamber.com/finance/u-s-ch…


Basel III Endgame is a recent example of how agencies are exploiting the "only disclose costs on firms directly regulated" loophole to misrepresent the true impact of their actions on small businesses. @smallbizpatriot explains more in @Newsweek: newsweek.com/dont-kill-gees…


“By significantly limiting late fees, the @CFPB is not only discouraging responsible credit card use but also imposing higher costs on consumers and limiting choices in credit card options and benefits.” Full statement from @NeilBradleyDC: uschamber.com/finance/u-s-ch…


As the President gives his speech and as Congress is called to make progress for the American people, they shouldn’t politicize the economy, blame business for problems in the economy, or hamstring the American business community. Insight: uschamber.com/improving-gove…


Our survey found that company treasurers are nervous about banking regulations like Basel III Endgame, with 68% predicting bank rule changes will hurt companies and 87% reporting financial regulations driving up costs. More here: uschamber.com/finance/how-bu…


Basel III Endgame would make financing prohibitively expensive for businesses in the midst of an already challenging environment. That’s why >100 local chambers across the country are urging the administration to reverse course. Read the full letter: centerforcapitalmarkets.com/wp-content/upl…


Capital Markets Reposted

“The Fed needs to withdraw and repropose the irredeemably flawed Basel III Endgame proposal, especially given that 97% of public comments across the ideological spectrum expressed disapproval of the proposal.” –@RepAndyBarr at @FinancialCmte @FSCDems hearing with Fed Chair Powell


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