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us regulatory reform
Dallas Fed: Improved regulatory and fiscal policies needed to aid recovery
02 Sep. Federal Reserve Bank of Dallas President Richard Fisher said Wednesday the recovery of the U.S. economy “will take quite some time,” and that improved regulatory and fiscal policies are needed in order to help the process. “We need to restore confidence,” he told reporters after giving a speech before the Greater Houston Partnership. [...]
It’s not over until it’s in the rules
Having passed the Dodd-Frank Act earlier this summer, the bill that aspires to reorder our financial universe in the wake of the most serious economic crisis in generations, Congress has moved on to other matters. Regulators are left to write the rules that will make financial reform a reality — or not — and are [...]
Editorial on US regulatory reform
23 Aug. US financial regulatory reform is, inter alia, intended to curb lending practices that led to the collapse of the mortgage market and have put millions of Americans at risk of losing their homes. The Fed must now translate the legislative language into rules that will govern how brokers, lenders, appraisers and investors behave [...]
Timeframe for changes in US financial regulation
21 Aug. The new financial overhaul law in the US triggers hundreds of new rules that regulators must draft and enact in the next two years. Here is a timetable of major actions. Effective immediately: Key appointments — Directors of the Consumer Financial Protection Bureau and the Office of Financial Research, which will collect and [...]
Geithner says Dodd-Frank regulations will be implemented quickly
05 Aug. US Treasury Secretary Geithner delivered remarks at New York University’s Stern School of Business in which he discussed the path forward for financial reform. He reminded the audience that the reforms that followed the Great Depression laid the foundation for decades of prosperity and led to one of the most-impressive records of investment, [...]
Consumer protection to be focus of US financial reforms
24 Jun. The final shape of US financial reform legislation, including tough restrictions on bank activity, is on course to be agreed on after a year of wrangling in Congress. The lawmakers backed a new Consumer Financial Protection Bureau to regulate credit products, housing it within the Fed but granting a high level of independence. [...]
Audits of the Federal Reserve
20 Jun. US lawmakers reached a compromise to allow expanded audits of the Federal Reserve, part of an effort to shine light on the central bank’s emergency lending during the financial crisis while safeguarding its independence in setting monetary policy. In another marathon session to hash out differences over sweeping new financial regulations, members of [...]
Republican senators call for transparency in financial reform conference
01 Jun. A group of five Republican Senators sent a letter to Senate Banking Committee Chairman Christopher Dodd and House Financial Services Committee Chairman Barney Frank, calling for transparency in the upcoming financial regulatory reform conference committee proceedings. They also argued that the American people have the right to know if any provisions adopted by [...]
US regulatory reform: The next step
The next step in the preparation of US financial regulation legislation requires the Senate bill to be reconciled with the bill passed earlier by the House of Representatives through a process known as “conference”. The broad outlines of the legislation are already determined, however the detail is yet to be finalised. The taskof reconciling the [...]
Snippet: FDIC’s Bair outlines priorities for regulatory reform
09 Mar. Federal Deposit Insurance Corp. Chairman Sheila Bair outlined three points which must be part of any financial regulatory overhaul, but said market incentives must also be realigned to make credit markets function properly over the long term: 1) Ending “too big to fail” 2) Plugging gaps in regulation 3) New consumer protections “Fixing [...]
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