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Fed S. 2155 Proposals Are Unjustified and Unwise

FOR IMMEDIATE RELEASE
Wednesday, October 31, 2018
Contact: Nick Jacobs, 202-618-6430 or njacobs@bettermarkets.com

 

Fed S. 2155 Proposals Are Unjustified and Unwise

 

Washington, D.C. – Better Markets President and CEO, Dennis Kelleher, issued the following statement regarding the Federal Reserve’s proposals on purported implementation of Senate Bill 2155, the bank deregulation bill signed into law earlier this year:

 

“Today’s actions by the Fed are as unjustified as they are unwise. Deregulating some of the largest banks in the country will make the financial system less safe, less stable and less protected from another crash. To do this so late in the business cycle after $2+ trillion of fiscal stimulus when these banks have record revenues, profits and bonuses is needlessly gambling with taxpayers’ money. If the Fed was guided by facts rather than ideology, it would be imposing countercyclical buffers, increasing capital, liquidity and other safeguards.”

 

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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.

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