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U.S. Considers Creating Single Agency to Regulate Banking Industry

G

Gargantuan

Just got this news alert from the Post in my email-- figured I'd share it with you guys.

Washington Post said:
Senior administration officials are considering the creation of a single agency to regulate the banking industry, replacing a patchwork of agencies that failed to prevent banks from falling into the worst financial crisis since the Great Depression, according to three people familiar with the matter.

The agency would be a key element in a sweeping administration plan to overhaul financial regulation, which officials hope to unveil in the next few weeks, including the creation of a new authority to police risks to the financial system, and a new agency to protect consumers, the sources said. Most of the proposals would require legislation.
Click to expand...

Washington Post Article

I personally am not opposed to the idea. In times like this, the banks are a serious problem, and require regulation.

What do you think?
 
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