December 5, 2017

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Senate Banking Bill Signals Bipartisan Improvements Need to Be Made to Dodd-Frank

The vote represents an important step toward improving the regulatory system to meet the needs of American businesses and consumers.

Senate Banking Bill Signals Bipartisan Improvements Need to Be Made to Dodd-Frank
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Senate Banking Bill Signals Bipartisan Improvements Need to Be Made to Dodd-Frank

Bipartisan action to modernize financial regulations important step

 

WASHINGTON – A vote moving bipartisan legislation forward to improve banking regulations is an important step in modernizing financial regulations while protecting consumers and driving economic growth.

“This legislation shows that common-sense improvements can be made to financial regulations, in a bipartisan way,” said FSR CEO Tim Pawlenty. “Today’s vote represents an important step toward improving the regulatory system to meet the needs of American businesses and consumers.”

To drive U.S. economic competitiveness and opportunity, FSR looks forward to working with policymakers to modernize requirements for institutions not addressed in this bill. While FSR supports shifting to a risk-based systemic designation framework rather than using arbitrary thresholds, this bipartisan legislation is an important step forward in reshaping the regulatory regime.

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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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