US regional banks urge lawmakers to ease capital rules, end card fee cap

Washington

CHIEF executives at the biggest US regional banks are asking US lawmakers to consider easing capital requirements and repealing part of the Dodd-Frank financial overhaul that caps fees banks charge retailers on debit-card transactions.

Regional banks don't pose risks to the financial system that have caused concern among policymakers, executives of 18 banks said in a Feb 13 letter to the top Republican and Democratic lawmakers in Congress. The banks include US Bancorp, PNC Financial Services Group Inc, and Capital One Financial Corp.