Bank CEOs Warn Congress About Tougher Rules. Watch the Hearing Live.

At issue is the controversial Basel III Endgame proposal, which will require banks to hold more capital to protect against potential losses. Proponents of the standard said that higher capital requirements will make the financial system safer, avoiding circumstances that led to the collapse of three major banks this spring. “It has much more impact than people think,” Brian Moynihan, CEO of Bank of America warned.