Volcker: Regulatory split creates ‘indecision and stalemate’
Division of financial supervision among US agencies is impeding Dodd-Frank reforms, says ex-Fed chairman
US legislators were wrong to retain a split in supervisory responsibilities between multiple agencies, and the resulting structure agreed in the Dodd-Frank Act is "a recipe for indecision, for neglect and for stalemate", says Paul Volcker, former chairman of the Federal Reserve.
Addressing the Economic Club of New York yesterday, Volcker criticised congressional leaders for failing to seize the opportunity to overhaul a regulatory framework that is currently split between six different
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