Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Regulators’ top risk cop assailed by reform-bent critics

Joe Mont | March 20, 2019

Whether it is due to the passage of time since the Financial Crisis, short memories, or the White House’s deregulatory zeal, major components of the Dodd-Frank Act are being modified, redefined, and weakened. Efforts are underway, and gaining traction, for example, to scale back the scope and reach of the Volcker rule. The Consumer Financial Protection Bureau is being rebooted to a more of a pro-business character. 

Another longstanding target for critics is the Financial Stability Oversight Council. It took President Trump only two weeks in office before threatening an overhaul or dismantling of the FSOC, ultimately decreeing an end to the Council’s process for designating non-banks as “systemically important financial institutions (SIFIs)” Legislative efforts and regulator-led initiatives have and gone with varying degrees of success.

The FSOC is comprised of the heads of federal regulatory agencies and an independent insurance expert appointed by the President. It...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.