Congress urged to curb Fed’s regulatory powers
House hearing revives debate on consolidating US regulatory agencies
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
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