PANews reported on August 17 that according to Jinshi, Federal Reserve Chairman Powell recently attended a closed-door meeting with CEOs of large banks, encouraging them to work with the Fed to avoid a years-long legal battle over the Biden administration's signature capital plan. People familiar with the matter revealed that Powell told bank leaders including Jamie Dimon of JPMorgan Chase and Jane Fraser of Citigroup that the public will have the opportunity to comment on key revisions to the plan. While it is not uncommon for Powell or other Fed governors to meet with a group of top bank CEOs, this discussion is the latest sign that Powell is trying to use his influence to get the industry and Fed governors to reach a consensus and finalize the plan. This plan, which was born out of the 2008 global financial crisis, has been brewing for more than a decade. The industry has strongly opposed it and is preparing for potential legal proceedings.