Regulators Stay Out of the Slammer, Banks Perhaps Not

Senate Banking convened its first session for the 113th Congress with a marathon Dodd-Frank oversight hearing today. This report assesses the testimony and Q&A directed at the Treasury, OCC, FDIC, FRB, CFTC, CFPB and SEC. Most of the agencies sought to persuade Congress that Dodd-Frank rules are well on their way to completion and that the overall framework – buttressed by adequate funding for the SEC and CFTC – is a robust response to systemic risk. Senators on both sides of the aisle did not so much dispute this as press on particular rules that worried them and/or community banks.

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