(Source: BBC) – US Treasury Secretary Timothy Geithner has told US banks to accept new financial regulations instead of asking Congress to weaken them.He criticised banking executives who are supporting Republican attempts stop the new laws being implemented.

He argued that big US banks should support the rules because it would be their foreign competitors who would benefit from any new loopholes.

Source: BBC

7 June 2011 Last updated at 05:52 ET

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