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CEOs of the nation's biggest banks warn that new regulations could harm the economy

Senate Banking
ASSOCIATED PRESS

The heads of Wall Street’s biggest banks used an appearance on Capitol Hill to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated, warning that the proposals could negatively impact the economy at a time of geopolitical turmoil and inflation

NEW YORK (AP) — The heads of Wall Street's biggest banks used an appearance on Capitol Hill on Wednesday to plead with senators to stop the Biden administration's proposed changes to how banks are regulated, warning that the new proposals could negatively impact the economy at a time of geopolitical turmoil and inflation.

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Wall Street's most powerful bankers have regularly appeared in front of Congress going back to the 2008 financial crisis. Among those testifying before the Senate Banking Committee included JPMorgan's Jamie Dimon, Bank of America's Brian Moynihan, Jane Fraser of Citigroup and Goldman Sachs' David Solomon.