Proposed Financial Institution Regulatory Reforms
Summer, 2009
Publication| Banking
In response to the current economic crisis and near failure of the financial system, President Barack Obama and the members of his administration have proposed sweeping regulatory reforms of the financial services industry. The Administration’s numerous proposals, set forth in a white paper released to the public on June 17, 2009, target weaknesses and gaps that the Administration perceives in the current regulatory structure with a five-pronged approach: 1) promoting the robust supervision and regulation of financial firms; 2) establishing comprehensive supervision of financial markets; 3) protecting consumers and investors from financial abuse; 4) providing the government with the tools it needs to manage financial crises; and 5) raising international regulatory standards and improving international cooperation.