Wall Street Rejoices as Regulators Agree to Modify Capital Plan

It seems that the Wall Street can finally rejoice as the Federal Reserve is reconsidering its proposed capital plan after facing pushback from lenders and community groups.Fed chairman, Jerome Powell, and the Federal Deposit Insurance Corporation (FDIC) chairman, Martin Gruenberg, recently signaled that officials might scale back their plans of making big banks hold more capital.Powell told lawmakers that “I expect there will be material and broad changes” and “we won’t hesitate” to make changes to the capi ...