Private-equity titan Wilbur Ross hates new rules for buying banks

Wilbur Ross isn't happy about a proposed overhaul of the rules that govern deals between the government and private investors for the assets of failed banks.

Ross, who runs WL Ross & Co., joined with a handful of other big private-equity investors to buy the remains of Florida's BankUnited after it was seized by regulators in May. But if the new rules pass, "I assure you that my firm will never again bid if the proposed policy statement is adopted in its present form," he reportedly wrote in a letter to the Federal Deposit Insurance Corp.