” Proponents of the Dodd-Frank financial reform law are taking a victory lap after regulators relaxed rules on a financial firm. Advocates for strict rules on Wall Street said the Wednesday decision by regulators to step back oversight on GE Capital is actually a good sign for the landmark financial reform law. Regulators decided Wednesday that the lending arm of General Electric no longer posed a threat to the overall financial system, and as such did not require the heightened regulations that come with being a “systemically important financial institution,” or SIFI.”
“Contrary to the nonstop, hysterical claims of industry and its political allies, FSOC has been thorough, deliberative, and fair throughout the designation process, focusing carefully on a rigorous data-driven analysis and clear systemic threats,” said Dennis Kelleher, president and CEO of Better Markets, a Wall Street reform advocacy group.
To read the full Hill article by Peter Schroeder click here.