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 Supervision (OTS), the Securities and Exchange Commission (SEC), and the Federal Deposit Insurance
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