Investors concerned about the impact on banking of climate change, the pay gap and ethics matters are pushing back against a coalition of the heads of the biggest U.S. banks and other public companies that wants to limit small investors’ access to proxy ballots.
Jay Clayton, the Wall Street lawyer tapped to lead the Securities and Exchange Commission, faces what could be an uncomfortable reunion this week with Senator Elizabeth Warren.
The SEC may have a more difficult time than other agencies adopting lenient financial regulations; the Fed's newest stress tests may be easier on the biggest banks.