News & Updates:

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  Financial Deregulation in the US
  In May 2018, by 258 in favor and 159 against, the US Congress adopted the Economic Growth, Regulatory Relief, and Consumer Protection Act. This bill represents the most significant change in the Dodd-Frank Act which was adopted after the 2008 financial crisis to protect the economy against future crises. Summarizing first the different waves of financial regulation and deregulation in the US history, this article will analyze this latest bill and its implications.
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  The Fed wants to veto state banking authorities. But is that legal?
  In this Bloomberg article, University of Pennsylvania professor Peter Conti-Brown discusses whether the Federal Reserve has the power to influence financial change in the United States. He indicates that it is more complex than a yes or no answer. Furthermore, he suggests that the Federal Reserve “… can rethink the way it supervises financial institutions or it can change its monetary policy framework.”
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  Fed staying course on rate hikes
  Interior Secretary approves selective state participation in offshore drilling expansion; Banks contest new regulations on accounting practices; Housing sales fall; Federal Reserve anticipated to continue interest rate hikes. 
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  Bank Suit Could Complicate the Fed’s Rate Policy
  In a conversation regarding the legal authority of the Federal Reserve Bank of New York and its capacity to limit companies from opening master accounts, Wharton Professor Peter Conti-Brown argues that he unconvinced that the Fed holds this legal right. 
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  10 years later: Is the global financial system more secure?
  Is the global financial system more secure since the crash of 2008? Professor Richard J. Herring indicates that because of new regulations, banks are less prone to experience another collapse. He argues “Most of the reforms have aimed at reducing the vulnerability of banks…. Equally important, however, are the reforms aimed at enabling the authorities to deal with a bank insolvency without imperiling the financial system.” Herring also compares the effects of the global financial crash in other markets, such as the European Union. He contends “…the fundamental problem [the Europeans] faced is that they lacked the important back-up of a facility comparable to TARP. They lacked financial resources to recapitalize banks that were inadequately capitalized…”