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Group Touts Plan to Consolidate Bank Regulators into Single Overseer 

April 16, 2014
Joe Mont, Compliance Week

An idea left on the cutting room floor of the Dodd-Frank Act was a plan to consolidate the Securities and Exchange Commission and Commodity Futures Trading Commission into a single regulator. Abandoned as too controversial, it seems a modest proposal compared to the sweeping regulatory changes suggested by a Washington think tank.

In a new report, the Bipartisan Policy Center is recommending that Congress consider a sweeping consolidation of government agencies “to make better sense of the fragmented U.S. financial regulatory system.” Among the recommendations from its Regulatory Architecture Task Force:

  • Creating a new Prudential Regulatory Authority would consolidate the supervisory and examination authority of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Federal Reserve into a unified prudential regulator.

Read more, Compliance Week

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
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