Goldman Sachs has reportedly been recruiting small businesses to advocate for its own interests.
According to a recent report from Reuters, the bank connected small business owners with members of Congress who may have influence surrounding financial regulations. The goal is to convince these lawmakers that a new proposal to raise capital requirements for big banks would ultimately harm small businesses.
The proposal, which is known widely as Basel III Endgame, is a joint proposal by the Federal Reserve, Federal Deposit Insurance Corp., and the Office of the Comptroller of the Currency. The change would rewrite capital obligations for all…
