Financial Reform: Let's Not Toss Out What's Working
Law360, New York (March 31, 2017, 11:10 AM EDT) -- In his zeal to make good on campaign promises to repeal or simplify banking and other regulations, President Donald Trump should be careful not to toss out what's working. Instead, any revisions to Dodd-Frank should recognize the critical role of enforcement and effective oversight to strike the right balance.
In the nearly nine years since depositors rushed to withdraw billions from a failing IndyMac Bank in July 2008, over 700 U.S. banks failed or were sold to avoid failure. The causes span the spectrum from incompetence to cooking the books. That history tells us that the stability of U.S. banking requires...
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