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Senate proposal a US$66b capital boon for US banks

If approved, it will remove obstacle to increasing shareholder payouts at 11 lenders such as American Express and Capital One

New York

A US Senate proposal to raise the level at which banks are deemed systemically important could help free up as much as US$66 billion in capital at 11 lenders and allow for increased shareholder payouts.

If lawmakers approve the most extensive rewrite of the 2010 Dodd-Frank