The Seattle Times, January 20, 2024, What Is The Basel III Endgame, And Why Are Banks So Upset About It
Some liberal Democrats in Congress and nonprofits devoted to closing the racial wealth gap are worried about the plan’s treatment of mortgages. Others say parts of the proposal could hurt renewable energy development by taking away tax benefits for financing green energy projects.
The National Community Reinvestment Coalition, which pushes banks to do more business in largely Black and Hispanic neighborhoods where banks often have scant presence, warned that parts of the proposal’s “overly aggressive capital requirements are likely to make mortgages significantly more expensive for the lower-wealth populations.”
