New York Times, November 8, 2023, Frustrated With New Rules, Bank Lobbyists Are Making Their Fight Public
Banks have become increasingly frustrated with their federal regulators and, in a break with tradition, have brought the battle out into the open.
Regulators say they are using powers they have long held to address specific problems in the industry, like racial discrimination. And a crisis among midsize banks that led to the collapse of four lenders this year has added urgency to the need for stricter capital rules, they say.
“The Trump administration really changed the tone and dialogue around regulations,” said Jesse Van Tol, president of the National Community Reinvestment Coalition, a group that pushes banks to do business in poor and minority communities and generally supports tougher regulations.
“Many of us who were fighting tooth and nail all of the things that were coming during the Trump administration used similar tactics.”