Download or read book Impact of Bank Reform Proposals on Consumers written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Consumer Affairs and Coinage and published by . This book was released on 1991 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Impact of Bank Reform Proposals on Consumers written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Consumer Affairs and Coinage and published by . This book was released on 1991 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Banking Restructuring Proposals on Small Businesses Access to Credit written by United States. Congress. House. Committee on Small Business. Subcommittee on Antitrust, Impact of Deregulation, and Privatization and published by . This book was released on 1991 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of the Dodd Frank Act on the Performance of US Listed Commercial and Savings Banks written by Zhuo Jian Tang and published by GRIN Verlag. This book was released on 2016-08-03 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2015 in the subject Business economics - Investment and Finance, Peking University, language: English, abstract: The impact of financial regulation has critical importance on firm performance and profitability. The aftermath of the Financial Crisis of 2008 saw the biggest regulatory reform in the U.S. financial system since the Great Depression. One of the main causes of the crisis was the excessive risk-taking by large firms because prior financial regulations had loopholes that firms could take advantage of. This reform’s intended purpose is to address and fix those failures in past regulatory oversight. With 398 proposed rules and more than 2,000 pages, the Dodd-Frank Wall Street Financial Reform and Consumer Protection Act signed into law in 2010, tackles many issues and implements many changes to the financial system. For one, it established new government oversight agencies, such as the Consumer Financial Protection Bureau (CFPB) and the Financial Stability Oversight Council (FSOC); it also outlined new capital requirement standards for banks, aimed to strengthen investor protection, increase the transparency of OTC derivatives, and improve the regulation of credit rating agencies. Our paper provides empirical evidence on whether the Dodd-Frank Act has any significant impact on the performance of U.S.-listed commercial and savings institutions while controlling for bank size. With a sample size of 640 publicly listed commercial and savings banks in the U.S. over each quarter between 2005-2014, we investigate the impact of the Dodd-Frank Act, bank-specific characteristics, and macroeconomic indicators on banks’ net interest margin, return on assets, and return on equity using a ‘difference-in-differences’ approach. Our results indicate that the Dodd-Frank Act has a significant negative impact on bank performance, indicated by the net interest margin. Return on assets and return on equity show no significant difference between small banks and big banks. More importantly the interaction term, between the Big Bank dummy and the Dodd-Frank dummy, negatively correlates with bank performance for net interest margin, return on assets, and return on equity. Furthermore, we find that bank-specific characteristics explain a substantial portion of bank performance. The contribution of our work is that, to the best of our knowledge, our paper is the first to provide empirical evidence on the impact of the Dodd-Frank on US-listed commercial and savings banks performance using the most recent data for our analysis.
Download or read book The Impact of the Dodd Frank Wall Street Reform and Consumer Protection Act on Community Banks written by Julia Spring and published by . This book was released on 2013 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Independent Commission on Banking final report written by Independent Commission on Banking and published by The Stationery Office. This book was released on 2011-09-13 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Independent Commission on Banking's final recommendations aim to create a more stable and competitive basis for UK banking for the long term. The result would be a banking system that is much less likely to cause, or succumb to, financial crises and the huge costs they bring; is self-reliant, so that the taxpayer does not have to bear the losses that banks make; and is effective and efficient at providing the basic banking services of safeguarding retail deposits, operating secure payments systems, and efficiently channelling savings to productive investments in the economy. Stability is crucial and UK banks should have more equity capital and loss-absorbing debt - beyond what has so far been internationally agreed - and their retail banking activities should be structurally separated, by a ring-fence, from wholesale and investment banking activities. The Commission also address competition, which has not been properly effective in UK retail banking. They recommend a seamless switching system based on redirection for personal and small business current accounts, free of cost and risk, complemented by measures to enhance transparency. The new Financial Conduct Authority should have a clear duty to promote effective competition. Structural reform should be complete by the Basel implementation date of 2019 at the latest. These reforms would result in better-capitalised, less leveraged banking more focused on the needs of savers and borrowers in the domestic economy. At the same time UK banks would be free to flourish in global markets, but without UK taxpayer support.
Download or read book Private Sector Priorities for Basel Reform written by United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit and published by . This book was released on 2006 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Download or read book Legislative Calendar written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs and published by . This book was released on 1992 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Reform written by Kent W. Colton and published by . This book was released on 1980 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the early 1970s there has been a wide range of proposals for comprehensive financial reform. For over a decade national legislation concerning these proposals--which were designed to alter the basic asset-liability mismatch of the housing oriented thrift institutions--has been stymied. However, in March of 1980 the Depository Institution Deregulation and Monetary Control Act of 1980 was passed into law. Although the legislation includes sweeping changes, this paper argues that the Bill was primarily a matter of Congress acting to legitimate innovations that were already underway at the state and local level--fueled especially by technology, consumer pressure, financial markets and regulatory action. In fact, lead by such innovations as the money market certificate, negotiable order of withdrawal (NOW) accounts, alternative mortgage instruments and an expanded secondary market, it seems that a strong silent revolution has been underway for the last decade. This evolution, coupled now with national legislation, will undoubtably substantially alter the activities and composition of thrift institutions. This paper, then, outlines what has happened over the past decade, the reasons for legislative failure until recently, and the factors that have fueled the evolution that is underway. It also discusses the prospects and implications for the future, especially as they relate to financial institutions, housing, and the consumer.
Download or read book Capitalizing on Crisis written by Greta R. Krippner and published by Harvard University Press. This book was released on 2012-09-10 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the context of the recent financial crisis, the extent to which the U.S. economy has become dependent on financial activities has been made abundantly clear. In Capitalizing on Crisis, Greta Krippner traces the longer-term historical evolution that made the rise of finance possible, arguing that this development rested on a broader transformation of the U.S. economy than is suggested by the current preoccupation with financial speculation. Krippner argues that state policies that created conditions conducive to financialization allowed the state to avoid a series of economic, social, and political dilemmas that confronted policymakers as postwar prosperity stalled beginning in the late 1960s and 1970s. In this regard, the financialization of the economy was not a deliberate outcome sought by policymakers, but rather an inadvertent result of the state’s attempts to solve other problems. The book focuses on deregulation of financial markets during the 1970s and 1980s, encouragement of foreign capital into the U.S. economy in the context of large fiscal imbalances in the early 1980s, and changes in monetary policy following the shift to high interest rates in 1979. Exhaustively researched, the book brings extensive new empirical evidence to bear on debates regarding recent developments in financial markets and the broader turn to the market that has characterized U.S. society over the last several decades.
Download or read book Community and Consumer Advocates Perspectives on the Obama Administration s Financial Regulatory Reform Proposals written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2009 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Overview of Consumer Finance and Policy Issues written by Cheryl R Cooper and published by . This book was released on 2019-08-02 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumer finance refers to the saving, borrowing, and investment choices that households make over time. These financial decisions can be complex and can affect households' financial wellbeing both now and in the future. Safe and affordable financial services are an important tool for most American households to avoid financial hardship, build assets, and achieve financial security over the course of their lives. Understanding why and how consumers make financial decisions is important when considering policy issues in consumer financial markets. Households borrow money for the following common reasons: investments-such as a home or education-to build future wealth, consumption smoothing (i.e., paying later to consume things now), and emergency expenses. Most households rely on credit to finance some of these expenses, because they do not have enough money saved to pay for them. According to the Federal Reserve Bank of New York, mortgage debt is by far the largest type of debt for households, accounting for approximately 67% of household debt. Student debt is the second-largest household debt, followed by auto loans and credit cards. Consumer financial markets generally share similar market dynamics. In all of these markets, consumers often act in similar ways when making financial decisions and firms tend to act in comparable ways to attract consumers. Therefore, the government tends to consider similar policy interventions when regulating in these markets. Competitive free markets generally lead to efficient distributions of goods and services to maximize value for society. Yet sometimes, free markets are inefficient when particular issues arise. Common issues in consumer financial markets include (1) information asymmetries between financial firms and consumers and (2) behavioral biases that predictably bias consumers when making financial decisions. In these cases, government policy can potentially correct market failures to bring the market to a more efficient outcome, maximizing social welfare. In consumer finance, three types of policy interventions are common: (1) standardized consumer disclosures; (2) regulation to prevent deceptive, unfair, or abusive financial institution practices; and (3) regulation to prevent discrimination in consumer-lending markets. Yet, policymakers need to be aware of unintended consequences of proposed policies, and often find it challenging to determine whether a policy intervention will help or harm a particular market's efficiency. In response to the 2007-2009 financial crisis, the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act (DoddFrank; P.L. 111-203) established the Bureau of Consumer Financial Protection (CFPB) to implement and enforce federal consumer financial law while ensuring consumers can access financial products and services. The CFPB's authorities fall into three broad categories: rulemaking, writing regulations to implement laws under its jurisdiction; supervision, the power to examine and impose reporting requirements on financial institutions; and enforcement of various consumer protection laws and regulations. The CFPB generally has regulatory authority over providers of an array of consumer financial products and services. The major consumer financial markets include mortgage lending, student loans, automobile loans, credit cards and payments, payday loans and other credit alternative financial products, and checking accounts and substitutes. In addition, two important market structures allow these consumer financial products to be offered: (1) the consumer credit reporting system and (2) the debt collection market. These aspects of the consumer credit system facilitate the pricing of credit offers and the resolution of delinquent consumer credit products for most consumer credit markets.
Download or read book The Financial Reform Act of 1976 written by United States. Congress. House. Committee on Banking, Currency, and Housing. Subcommittee on Financial Institutions Supervision, Regulation and Insurance and published by . This book was released on 1976 with total page 762 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consideration of Regulatory Reform Proposals Hearing Before the Committee on Banking Housing and Urban Affairs United States Senate One Hundred Eighth Congress Second Session on Regulatory Reform Proposals June 22 2004 written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2006 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economic Impact of Eliminating Preemption of State Consumer Protection Laws written by Joseph R. Mason and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In July 2009, the Obama Administration proposed legislation that would create a Consumer Financial Protection Agency. Among other items, the proposed legislation would eliminate federal preemption of state consumer protection laws, which would encourage states to reintroduce a scattering of local rules and regulations. The legislation is an outgrowth of a recent - though largely non-economic - literature linking preemption to all that ails the U.S. banking industry, including the subprime mortgage crisis. Since the National Bank Act of 1864, U.S. banks and their customers have benefited enormously from the preemption of state and local rules. Uniform, national regulatory standards have allowed banks to issue a consistent set of terms for mortgages, credit cards, and business loans. Literature focusing on the politics of preemption, rather than on the economic effects, largely misses the efficiency gains from standardizing regulatory policy. By encouraging competition between banks, uniform standards lead to lower costs of credit and greater capital availability. In this paper, we examine from an economic perspective why uniform national standards were originally needed in the U.S. banking industry, and continue to be so. The most significant preemption decisions made by the Office of the Comptroller of the Currency over the last two decades have enhanced competition among banks and thwarted price controls, increasing overall economic efficiency. Preemption has been used to open markets, expand access to banking services such as ATMs, democratize credit, and simplify regulatory compliance. Accordingly, placing barriers to preemption would raise bank operating costs and restrict bank operations, hurt customers, and suppress economic growth.
Download or read book Understanding the Federal Reserve s Proposed Rule on Interchange Fees written by United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit and published by . This book was released on 2011 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:
