Financial institutions news from around the web: September 18 – 22, 2023

Dimon blasts regulators’ capital proposals 

The JPMorgan Chase chief called a plan that requires banks to set aside more capital for times of crisis “hugely disappointing” and lacking in transparency. 

Banks load up on $1.2 trillion in risky ‘hot’ deposits 

Brokered deposits can be a quick way for a bank to shore up its balance sheet, but regulators and bankers say they are also a type of “hot” money that is prone to disappear when a bank hits a rough patch. 

European Central Bank hikes rates to record level, hints at possible peak 

The European Central Bank announced a 10th consecutive hike in its main interest rate, as the fight against inflation took precedence over a weakening economy. 

Senators push to pass cannabis banking bill after marijuana rescheduling 

A bipartisan coalition of senators behind a cannabis banking bill is pushing for a markup and working to clear key hurdles on both sides of the aisle to lock down support.