Skip to main content

Newsroom

November 15, 2013

GAO: Anti-bank bailout rules not finished

Federal financial regulators have not fully finalized measures to make sure that major banks cannot depend on the federal government to bail them out in a crisis, according to the Government Accountability Office (GAO).

A report from the GAO, which acts as Congress’s investigative arm, discovered that measures under the Dodd-Frank Act to limit future bailouts “are not yet fully implemented.”

Lawmakers in the Senate say the report underscores that “too big to fail” banks have an implicit guarantee that the government will bail them out in the case of a crisis.

According to the GAO report, the Federal Reserve has not completed procedures changing the way it grants emergency funding to banks during a crisis. It has also not set time frames for finishing the new procedures.”

***

Read full The Hill article here

In the News
Share

MEDIA REQUESTS

For media inquiries, please contact us at
press@bettermarkets.org or 202-618-6433.

Contact Us

For media inquiries, please contact press@bettermarkets.org or 202-618-6433.

To sign up for our email newsletter, please visit this page.

Name(Required)
This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact press@bettermarkets.org or 202-618-6433.

Donate

Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today