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NYTIMES (Stacy Cowley) - Banking Regulators Prepare to Loosen Post-Crisis Capital Rules

The changes, long sought by bank lobbyists, will reduce the capital banks must hold in reserve to mitigate risks.

AXIOS (Kathleen Hunter) - Mullin scores committee approval to head DHS

Sen. Markwayne Mullin's Cabinet nomination advanced to the Senate floor Thursday despite opposition from Homeland Security and Governmental Affairs Committee Chairman Rand Paul (R-Ky.). Why it matters: The 8-7 committee vote puts Mullin an important step closer to being confirmed to succeed Kristi Noem as Homeland Security secretary when Noem steps down at the end of the month. - Paul voted "no, while Sen. John Fetterman (D-Pa.) voted in favor. - Otherwise, the vote split along party lines. State of play: The vote followed a vitriolic hearing on Wednesday that opened with Paul challenging Mullin to "tell me to my face " why Paul deserved an assault that left him with broken ribs. - "You have never had the courage to look me in the…

AXIOS (Avery Lotz) - States challenge "broadcast behemoth" mega-merger

Eight states sued to block the massive $6.2 billion merger of Nexstar and Tegna that could create the largest local broadcast company in the country by far. Why it matters: The deal, which would require lifting the limit on television station ownership, is a litmus test for the Federal Communications Commission's deregulation drive. - FCC Commissioner Brendan Carr has already signaled . - While Trump has signaled he is not in favor of lifting the national ownership cap, he's endorsed the deal as a means for "more competition against THE ENEMY, the Fake News National TV Networks." By the numbers: Nexstar is already the largest owner of local TV stations in the nation, while Tegna ranks in the top five. - The companies say that the…

AXIOS (Barak Ravid) - Six U.S. allies back potential Strait of Hormuz coalition

Six U.S. Western allies announced in a joint statement on Thursday their support for a potential coalition to reopen the strait of Hormuz for commercial ships and oil tankers. Reality check: The statement does not include any commitment to send naval vessels or other resources to make that happen. For now, it's largely a gesture to placate President Trump, who has railed against allies for declining to help secure the strait and warned that a failure to do so could undermine the future of NATO. Why it matters: The strait closure has become the main crisis for the White House in the war. - As long as the Iranian blockade holds and Gulf oil remains trapped, President Trump can't end the war and declare victory even if he wants to.…