The Detroit Regional Chamber, alongside more than 100 organizations, recently signed on to the U.S. Chamber‘s coalition letter on Basel III to share its concerns about the proposed rule.
The letter to President Joe Biden states that the proposed rule known as the “Basel III Endgame” would substantially increase capital requirements on covered U.S. banks and make capital and credit more expensive for businesses of all shapes and sizes. If enacted, the Basel III Endgame rule would make financing prohibitively expensive for businesses in the midst of an already challenging environment.
View the letter below.