Handicapping Financial Reform

6 Pages Posted: 27 Mar 2018

See all articles by Charles W. Calomiris

Charles W. Calomiris

Columbia University - Columbia Business School; National Bureau of Economic Research (NBER)

Date Written: March 2018

Abstract

Last decade’s financial crisis sparked a flurry of new banking and finance regulation, highlighted by the Dodd–Frank Act and changes to housing finance. There is a growing realization among policy experts that that regulation has largely flopped, doing little to improve the financial system’s security, but hurting the viability of small banks and increasing the ranks of unbanked people. President Trump and new Federal Reserve chair Jerome Powell can lead the reform of this regulation if they choose to do so. This article outlines some tenets of good reform.

Keywords: Dodd-Frank Act, financial regulation, housing finance, financial security, federal reserve

JEL Classification: E44, E52, E58, G28, R31

Suggested Citation

Calomiris, Charles W., Handicapping Financial Reform (March 2018). Regulation, Vol. 41, No. 1, Spring 2018; Columbia Business School Research Paper No. 18-44. Available at SSRN: https://ssrn.com/abstract=3147202

Charles W. Calomiris (Contact Author)

Columbia University - Columbia Business School ( email )

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National Bureau of Economic Research (NBER)

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