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Wall Street bank bosses warn lawmakers over new regulations
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WASHINGTON (Reuters) — The top bosses of JPMorgan, Morgan Stanley, Citigroup and other major banks will warn lawmakers that new regulations will hurt credit and the broader economy, according to prepared testimony published on Tuesday.
The CEOs of the country's eight largest banks will appear before the Senate Banking Committee on Wednesday.
«I am concerned with a number of proposed rules issued over the last year that appear to be lacking the sort of thoughtful economic analysis required for success,» JPMorgan CEO Jamie Dimon will say.
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