Major changes could be in store for the post-crisis regulatory structure that has been built over the past eight years.
The legislation would create a new office that would be both less powerful, and in some ways more independent, than the two entities it would succeed.
The proposal would raise the regulatory burden on the eight most systemically important U.S. banks, especially compared to the large regional banks.
The Volcker Rule has proved to be one of the most closely watched and contentious pieces of the financial regulatory overhaul that followed the financial crisis.
The House Financial Services Committee may vote soon on change how banks with more than $50 billion in assets are regulated by the Federal Reserve.
The testimony may place special emphasis on emerging threats that have been in the news recently, most notably cybersecurity and international concerns.
Lawmakers from both parties are demanding greater transparency and accountability from the Federal Reserve.
BPC’s Financial Regulatory Reform Initiative highlights news articles, papers and other important work which illuminate current and new thinking within financial regulation.
With Republicans taking control of both the Senate and the House, the new leadership has promised to show that they can work together and with Democrats – and actually get stuff done.
This Tuesday and Wednesday, the House Financial Services Committee marked up several bills that would have important positive impacts on the way the Consumer Financial Protection Bureau operates. Three of those bills would implement changes that mirror recommendations made in BPC’s September 2013 report, The Consumer Financial Protection Bureau: Measuring the Progress of a New Agency.