Single banking regulator plan for the US inches closer

US press reports indicate that the Obama administration is looking to push through proposals for an overarching banking regulator, which has stirred critics into action

It is looking increasingly likely that the Obama administration is going to push for a single banking regulator for the US, according to recent reports in the Wall Street Journal. Although no formal decision has been made, the signs are there that this is the preferred method for reforming the outdated financial regulatory regime. The American Bankers Association has already voiced its concerned over such wide-ranging reform, opting instead for the creation of a systemic regulator - preferably