CCMC Letter on HFSC Hearing January 31th

The U.S. Chamber of Commerce ("Chamber") appreciates the House Financial Services Subcommittee on Financial Institutions and Monetary Policy holding the hearing on January 31, 2024, entitled, “Rules Without Analysis: Federal Banking Proposals Under the Biden Administration.” We are concerned with the sparse economic analysis the federal banking regulators are attempting to rely on to justify their proposed rulemaking entitled “Regulatory Capital Rule: Large Banking Organizations and Banking Organizations with Significant Trading Activity,” commonly referred to as the Basel III Endgame Rule.