US banks review legal options against operational risk charge

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WASHINGTON -- US opponents of capital charges as a protection for banks against operational risk are not giving up the fight following the reaffirmation by global banking regulators of their faith in such charges.

"There’s still a lot to play for in terms of US law and the fact that the proposals must be reviewed by Congress," said Karen Petrou, who heads the Washington-based Financial Guardian Group (FGG), a coalition of US banks opposed to op risk charges.

Petrou was commenting on the July 1