WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) – ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – released the following statement on the Federal Reserve’s Comprehensive Capital Analysis and Review (CCAR) Stress Test results. The CCAR Stress Test is an annual exercise by the Federal Reserve to assess whether the largest banks operating in the United States have sufficient capital to weather downturns in the economy.
“Between the partisan tax bill, the Dodd-Frank rollback bill, and the Administration constantly checking items off of Wall Street’s wish list, it’s a great year to be a big bank. Instead of payouts to executives and wealthy shareholders, big banks should be reinvesting profits into workers, lowering costs for consumers, and taking steps to avoid more taxpayer bailouts,” said Brown. “What’s worse is that the Federal Reserve wants to make life even easier for the big banks, by removing a key funding constraint and reportedly making next year’s tests even easier.”