Scalia and Rep. Barr Blast Bank Capital Plan

Also, Fed proposes cap on debit card swipe fees; SEC penalties (surprisingly) fell in fiscal 2023

Eugene Scalia, the go-to lawyer for challenging federal rules, had a message today for the bank regulators: He’s been digging through their capital plan and finds it wanting. “It's an incomplete document in ways that are legally very consequential,” Scalia said. “This document is not one step away from a final rule – it requires much more explanation.”

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