The Dodd-Frank Act isn't quite three years old, but its effectiveness is already under withering fire.
Many lawmakers on both sides of the aisle argue the law failed to address the central issue of the 2008 financial crisis: that some firms proved to be too big to fail. They are calling for legislation that would go further than the reform law passed in 2010 and seek to scrap regulatory initiatives such as Basel III.
The industry, meanwhile, continues to raise concerns about the slow pace of implementation of Dodd-Frank. Regulators have yet to finalize key components of the law, including the Volcker Rule's ban on proprietary trading and new risk retention standards.
That's why it's critical for bankers, industry representatives and other interested stakeholders to hear directly from regulators, lawmakers and other policymakers about what's coming in the months ahead.
In its first two years, American Banker's Regulatory Symposium has featured top officials from the Consumer Financial Protection Bureau, Federal Deposit Insurance Corp., Treasury Department and Office of the Comptroller of the Currency as well as leading lawmakers on the House and Senate banking committees. It has tackled hot-button topics with some of the industry's leading thought providers, including bank CEOs, academics and consultants.
This year's conference is shaping up to offer a similar lineup with speeches from key regulators, lawmakers and bank executives touching on the important topics in the policy world.
Please accept my invitation to join me on Sept. 23 and Sept. 24 just outside of Washington D.C. It's your chance to hear first-hand from the players that are shaping the regulatory and legislative agenda and know where the future of bank regulation is headed.
Washington Bureau Chief American Banker