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Fed Feels Heat to Tailor Capital Rules for Nonbank Firms

"Lawmakers are increasing pressure on the Federal Reserve Board to apply different capital rules to nonbank financial firms, like insurance companies, thought to be risky to the financial system.

"A bipartisan group of senators introduced a bill this week that would clarify a provision of the Dodd-Frank Act to say that the central bank does not have to apply bank-like capital requirements to systemically important nonbank firms.