We recently released a paper examining the single financial services regulator question . This paper summarized existing research and viewpoints on a hot button issue for the credit union system. On June 17 the U.S. Treasury Department will unveil their regulatory plan which is receiving conflicting reports about the direction this plan will take. There seem to be two distinct possibilities: modest re-organization or massive consolidation of banking regulatory bodies.
Of course, the Treasury’s plan will be opined on by trade and consumer groups, debated by Congress, and, if passed, signed into law by President Obama. CUNA, NAFCU and the state leagues are ably preparing for this debate on behalf the U.S. credit union system. In addition to these resources, you may also want to tune your antennae to the following:
- Behaviorally Informed Financial Services Regulation was co-authored by now Assistant Treasury Secretary for Financial Institutions and former professor of law at the University of Michigan, Michael Barr. As I cataloged in a previous post regulatory proposals may begin to take on a behavioral economist bent.
- The Committee on Capital Markets Regulation is a non-profit, non-partisan group of 25 leading academics and financial services executives, including Filene Fellow and Harvard Business School professor Peter Tufano, which recently came forward with a proposal for financial regulatory reform.
As the debate evolves we will attempt to add useful information and resources on this critically important public policy topic.
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