US regulators reject GAO's unification idea
WASHINGTON, DC -- US financial regulators have rejected recommendations by the Governmental Accountability Office (GAO) to alter the country's regulatory structure.
In a recent report, the GAO suggested Congress considers ways to consolidate the regulatory structure to address risks posed by large, complex firms and their consolidated risk management approaches; to promote competition domestically and internationally; and to contain systemic risk.
The Federal Reserve System (Fed), the Office of the Comptroller of the Currency (OCC), the Office of Thrift
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