The Dodd-Frank Act has a champion in Treasury Under Secretary for Domestic Finance Mary Miller. To those who would repeal or roll it back she warns that doing so could lead to another crisis, reports Victoria Finkle from American Banker’s Regulatory Symposium.
"We cannot afford another financial crisis. The price of reform is small compared to the price of another September 2008," Miller said in prepared remarks.
She argued that the legislation is careful not to lump small banks with large. And to the oft-repeated criticism about length she says, "simplicity is not always synonymous with smart."
For the full piece see "Undoing Dodd-Frank Could Spark New Crisis: Treasury's Miller" (may require subscription).