Congress urged to curb Fed’s regulatory powers

House hearing revives debate on consolidating US regulatory agencies

US Federal Reserve building
Federal Reserve: would be stripped of regulatory powers under new suggestions

An influential conservative think-tank has called on lawmakers to strip the Federal Reserve of its regulatory authority over US banks.

Norbert Michel, senior research fellow at The Heritage Foundation, made the case for a drastic reordering of the federal regulatory structure for financial institutions at a bank subcommittee hearing of the House Committee on Financial Services earlier today (April 6).

“There are countless opportunities to reform the federal financial system,” he said. “It is

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: