The US is at a critical juncture for financial regulation
— April 19, 2017
By Matthew Richardson, Kermit Schoenholtz, Bruce Tuckman, Lawrence White
The most burdensome parts of Dodd-Frank should be eliminated, but the government must have regulatory tools to protect the financial system. In particular, the following key issues need to be resolved correctly.
Create an “Off-Ramp” for smaller banks but not for the largest banks. The CHOICE Act’s off-ramp exempts banks that are financed with a specified minimum level of equity from the more complex rules of Dodd-Frank.
Read the full article as published by The Hill.
Matthew Richardson, Kermit Schoenholtz, Bruce Tuckman and Lawrence White are professors at the NYU Stern School of Business and are the editors of the recently published book, "Regulating Wall Street: CHOICE Act vs. Dodd-Frank."