August 9, 2017Volcker Rule...
August 2, 2017nomination of former congressman...
July 27, 2017
Created by the...
June 15, 2017
On Monday, the Department of the Treasury issued its first response to the President’s Executive Order 13772 on core principles for regulating the financial system. The first report covers regulation of banks and...
June 7, 2017
April 25, 2017
Major reform of banking and finance regulation could be coming soon to Washington, D.C. Last week President Trump issued a presidential memorandum directing Treasury Secretary Steve Mnuchin to review the process by which companies are designated as systemically important financial institutions (SIFIs), better known as “too big to fail.” My colleague John Berlau commented on the move last week, urging the administration to go even further:
Some firms have embraced this designation [as systemically important], and some have fought it. But this should not matter for public policy, as government in a free market should not target certain firms...
April 13, 2017
This post is the third in a 3-part series on banking regulation and the Glass-Steagall Act. The first two parts are “Lawmakers Should Shun Long-Repealed Bank Restrictions,” and “Glass-Steagall Would Not Have Prevented the Financial Crisis.”
Director of the National Economic Council Gary Cohn (a former Goldman Sachs executive) told Bloomberg TV on Friday that “If we come up with a 21st Century, modern Glass-Steagall, we may be able to tailor regulation for different aspects of the financial markets and different aspects of the financial institutions...
April 12, 2017
February 20, 2017has been confirmed, Treasury Secretary Steven Mnuchin has a lot on his plate. He needs to do what he can administratively to reduce the crushing burden of...
February 7, 2017
Last Friday, the President issued an executive order on what he called “core principles” for regulating the American financial system. They are:
(a) empower Americans to make independent financial decisions and informed choices in the marketplace, save for retirement, and build individual wealth;
(b) prevent taxpayer-funded bailouts;
(c) foster economic growth and vibrant financial markets through more rigorous regulatory impact analysis that addresses systemic risk and market failures, such as moral hazard and information asymmetry;
(d) enable American companies to be competitive with foreign firms in domestic...