Testimony before the U.S. Senate Banking Committee: ‘Fostering Economic Growth: Midsized, Regional and Large Institution Perspective’

17 Pages Posted: 21 Jun 2017

Date Written: June 21, 2017

Abstract

This written statement accompanied Professor Omarova’s oral testimony given on June 15, 2017, in a hearing held by the U.S. Senate Banking Committee on the necessity of relaxing certain aspects of post-crisis financial regulation applicable to midsized, regional and large banks, as a means of fostering America’s economic growth. In her written statement, Professor Omarova systematically lays out the reasons why massive deregulation urged by the banking industry will hinder, rather than foster, sustainable long-term growth in the real (i.e., non-financial) sector of the American economy.

Keywords: Dodd-Frank, Banks, Financial Institutions, Financial Regulation, Bank Regulation, Bank Supervision, Deregulation, FSOC, SIFI, Economic Growth, Systemic Risk, Financial Stability, Financial Crisis, Stress Tests, Federal Reserve, Living Wills, Bank Capital, Financialization, Small Business Lending

Suggested Citation

Omarova, Saule T., Testimony before the U.S. Senate Banking Committee: ‘Fostering Economic Growth: Midsized, Regional and Large Institution Perspective’ (June 21, 2017). Cornell Legal Studies Research Paper No. 17-31, Available at SSRN: https://ssrn.com/abstract=2990570

Saule T. Omarova (Contact Author)

Cornell University - Law School ( email )

Myron Taylor Hall
Cornell University
Ithaca, NY 14853-4901
United States

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