Regulatory Restructuring

Congress is considering sweeping legislation that would overhaul regulation of the financial services industry. The House and Senate bills are vast in scope and include some elements that ABA has been advocating for the past year. They also include proposals, such as elimination of the thrift charter and creation of the Consumer Financial Protection Agency, that ABA finds extremely troublesome.

ABA has advocated legislation that focuses on creating a systemic regulator, providing a strong mechanism for resolving troubled systemically important firms and filling gaps in the regulation of nonbanks. The bills passed by the House and Senate go much further that that and place incredible new burdens on traditional banks that did not cause the financial crisis.

ABA Resources

• Covered Person List - Conference Base Text (6/17/10)
• Recent Regualtory Burdens Imposed on Banks  (5/24/10)
• Summary of Senate bill (5/20/10)
• 27 Ways Community Banks Will Be Impacted By Reform Bill (4/19/10)
• Reg Reform and Community Banks: Huge New Burdens (4/14/10)
• Highlights of Dodd Regulatory Restructuring Bill (April 2010)
• Summary Of The Restoring American Financial Stability Act of 2010 (3/22/10) 
• ABA advocacy advertisement on TARP repayment (2/3/10)
• Studies on Regulatory Restructuring Issues (1/20/10)
• H.R. 4173 Wall Street Reform and Consumer Protection Act of 2009 (1/15/10)
• List of Businesses and other Entities Within CFPA Jurisdiction H.R. 4173 (12/07/09)
• List of Businesses and other Entities Within CFPA Jurisdiction Dodd Bill (12/07/09)
• Overview of House-Passed Regulatory Reform Bill
• Detailed Summary of House-Passed Reg Reform Bill
• Summary of  House Financial Services Systemic Bill (11/24/09)
• ABA Detailed Analysis of Dodd Proposal (11/17/09)
• ABA Timeline: For More Than a Year, ABA Has Called for Regulatory Improvements 
• Materials for Reporters Covering Reg Reform
• Partial List of Entities Subject to CFPA Jurisdiction (Last Updated: 9/15/09)

• View all Grassroots Lobbying Resources on Regulatory Restructuring Bill (May 2010)

White Papers

• ABA White Paper: Charter Shopping? Not Likely. November, 2009 
• ABA White Paper: Funding and Staffing the New Consumer Financial Protection Agency, November, 2009 
• The Impact of the Consumer Financial Protection Agency Act of 2009 on Effective Bank Supervision, October 2009
• A Response to Professor Levitin on the Effect of the Consumer Financial Protection Agency Act of 2009 on Consumer Credit, November 2009
• Journal of Business Law: The Economic Impact of Eliminating Preemption of State Consumer Protection Laws
• The Effect of the Consumer Financial Protection Agency Act of 2009 on Consumer Credit (10/7/09)
• A Preemption Primer (9/21/09)

Background Information

• 27 Ways Community Banks Will Be Impacted By Reform Bill (4/19/10)
• Reg Reform and Community Banks: Huge New Burdens (4/14/10)
• Highlights of Dodd Regulatory Restructuring Bill (April 2010)
• Summary Of The Restoring American Financial Stability Act of 2010 (3/22/10)     
• GLBA Helped to Resolve the Credit Crisis (1/25/10)
• TARP Facts (1/13/10)
• ABA Executive Summary of Dodd Proposal (11/17/09)
• Senate Banking Committee summary of the Dodd Regulatory Reform Proposal (11/10/09) 
• Senate Banking Committee Chairman Dodd's Draft Bill (11/10/09)
• ABA Overview of Proposed Systemic Risk Bill
• ABA Detailed Summary of Proposed Systemic Risk Bill (11/3/09)
• ABA Summary of House Passed Executive Compensation Bill (8/11/09)
• Interpretive analysis of H.R. 3126
• H.R. 3126, a bill to create a Consumer Financial Protection Agency
• Regulatory Reform Issues
• Detailed Summary of Obama Regulatory Restructuring Proposal
• Overview of Obama Proposal on Financial Regulatory Reorganization 

ABA Testimonies & Letters

• ABA Says Reform Bill Doesn't End 'Too-Big-To-Fail' (3/22/10)
• ABA Urges Dodd, Shelby to Address Accounting Policy Systemic Risk (1/25/10)
• ABA Outlines Reg Reform Positions in Letter to Senate Banking Panel Leaders (1/5/10)
• ABA Testifies on Ending Too-Big-To-Fail/Systemic Risk (10/29/09)
• ABA: CFPA Proposal Unnecessarily Imposes New Burdens on Banks  (9/30/09)
• Austin L. Roberts, ABA banker, testimony on regulatory restructuring and small business lending before the House Small Business Committee (9/23/09)
• Community Banker Letter to Treasury (8/18/09)  
• Ed Yingling testimony on the proposed Consumer Financial Protection Agency before the House Financial Services Committee (7/15/09)
• Ed Yingling testimony on the proposed Consumer Financial Protection Agency before the Senate Banking Committee (7/14/09)
• Ed Yingling testimony on Regulatory Restructuring before the House Financial Services Committee (7/24/09)

• Chairman Dodd's Regulatory Restructuring Bill (3/15/10)
  • Majority Staff Section-by-Section Summary of Dodd Bill
• Chairman Frank Memo Clarifying CFPA Coverage (1/21/10)
• H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009 (House-passed bill)(12/2/09)
• Systemic Risk. Financial Services Committee/Treasury Department Draft Legislation to Address Systemic Risk, "Too Big to Fail" Institutions
• Consumer Financial Protection Agency. Committee Summary of CFPA Bill (H.R. 3126) as Passed by House Financial Services Committee
• Credit Rating Agencies. Summary of H.R. 3890, Accountability and Transparency in Rating Agencies Act, as adopted by House Financial Services Oct. 28 
• Private Investment Advisers. Summary of H.R. 3818, the Private Fund Investment Advisers Registration Act, as adopted by House Financial Services Oct. 27
• Derivatives. Over-the-Counter Derivatives Markets Act of 2009 Discussion Draft (10/2/2009)
• Office of Federal Insurance. Summary of Draft Federal Insurance Office Act (10/1/2009)
• Investor Protection. Summary of Investor Protection Act Discussion Draft (10/1/2009)
• Compensation. H.R. 3269, the Corporate and Financial Institution Compensation Fairness Act as passed by the House (7/31/09)

For additional information or questions, please contact ABA's Charlotte Birch.