Fed's Yellen defends regulatory role, raises stress test changes
Federal Reserve Chair Janet Yellen was thrust into the election-year boxing ring during a congressional committee hearing on Wednesday, defending the central bank's regulatory role, taking and landing punches on Wells Fargo and other banks considered too big to fail, and addressing accusations of political conflicts of interest.
At a House of Representatives Financial Services Committee hearing, Yellen also provided details on the changes the central bank is considering making to the annual stress tests it gives U.S. banks. It would move to a more risk-sensitive, firm-specific approach that... read more
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