Congress urged to curb Fed’s regulatory powers
House hearing revives debate on consolidating US regulatory agencies
An influential conservative think-tank has called on lawmakers to strip the US Federal Reserve of its regulatory authority over US banks.
Norbert Michel, senior research fellow at The Heritage Foundation, made the case for a drastic reordering of the federal regulatory structure for financial institutions at a bank subcommittee hearing of the House Committee on Financial Services on April 6.
“There are countless opportunities to reform the federal financial system,” he said. “It is full of
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