CEOs of major banks, including JPMorgan Chase (JPM) and Bank of America (BAC), testified to lawmakers on Capitol Hill on Wednesday, addressing concerns on economic conditions and inflation that could be brought on by capital requirement revisions found in the "Basel III Endgame" provisions. Yahoo Finance Reporter Jennifer Schonberger highlights statements made by chief executives and Senate Banking Committee members. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
During Wednesday’s highly anticipated hearing with America’s big bank CEOs, controversial capital requirements proposed by the Federal Reserve came up again and again.
Morgan Stanley (MS) concluded the recent trading session at $81.21, signifying a +0.4% move from its prior day's close.