WASHINGTON: Former Federal Deposit Insurance Corp chairman Sheila Bair is leading an effort to convince the Federal Reserve to get tougher on the largest US banks.
Bair and three academics are urging the Fed to impose more stringent capital standards on financial giants and criticising the US central bank's recent decision to allow big banks, such as JPMorgan Chase, to boost stock dividends rather than use these funds to fortify their balance sheets.
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