September 29, 2017

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FSR: Perdue-McCaskill SIFI Legislation Important Step in Modernizing Financial Regulation

This common sense and bipartisan bill will better tailor regulations to drive economic growth while still protecting consumers. The risk a financial institution poses should be determined by activities, not arbitrary thresholds.

FSR: Perdue-McCaskill SIFI Legislation Important Step in Modernizing Financial Regulation
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FSR: Perdue-McCaskill SIFI Legislation Important Step in Modernizing Financial Regulation

 

WASHINGTON—FSR released the following statement after Senators Perdue and McCaskill introduced the System Risk Designation Improvement Act of 2017, addressing the arbitrary asset thresholds used for systemically important financial institution (SIFI) designations:

“This common sense and bipartisan bill will better tailor regulations to drive economic growth while still protecting consumers,” said FSR’s Head of Government Affairs Anthony Cimino. “The risk a financial institution poses should be determined by activities, not arbitrary thresholds. It is important to review the impact of Dodd-Frank and other financial regulations on banks of all sizes to ensure they are appropriately calibrated and are not unnecessarily holding back lending and impeding economic growth.”

FSR encourages Chairman Crapo and Senator Brown to consider this bill and quickly advance it through the Senate.

 

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About The Author

The Financial Services Roundtable represents the largest integrated financial services companies providing banking, insurance, payment and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. FSR member companies provide fuel for America’s economic engine, accounting for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs.

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