Financial Regulation

Businesses of all sizes need well-functioning and multi-faceted capital markets. Excessive and unnecessary banking and securities regulations constrain access to capital for businesses, making it harder for them to form and grow. The Chamber believes a free and efficient capital market system is essential to economic growth and innovation.

In addition, public companies are facing increasing outside pressure to focus on short term gains and special interests over long term wellbeing and investment. The Chamber is focused on rebalancing the system to reinvigorate the public company model.

Projects and Programs

 

Priorities for 2018

  • Alleviate the regulatory burden that is currently deterring companies from going public. Building off the success of the 2012 JOBS Act, the Chamber will advocate for a set of reform recommendations to help more companies go public.
  • Bring transparency and accountability to proxy advisory firms, modernize corporate disclosures, reform the shareholder proposal system, and expose special interest activism.
  • Enact legislation that provides broad relief to banks that offer critical main street financing, and pursue regulatory changes for those banks not afforded legislative relief.
  • Reform bank capital and liquidity rules to free up lending to small and midsize businesses, including by:
    • Pursuing legislation revising section 165 of the Dodd-Frank Act, such that application of enhanced prudential standards and supervision by the Federal Reserve is based on a multifactor risk assessment.
    • Advocating for recalibration of Basel III standards, the removal of these standards’ gold-plating by the Federal Reserve, broad relief for community banks, and reforms to the Dodd-Frank Act stress tests and comprehensive capital analysis and review.

Recent Activity

Press ReleaseApr 26, 2018 - 8:00am

U.S. Chamber and Partners Make Recommendations to Reverse Decline in IPOs, Expand America’s Public Capital Markets

WASHINGTON, D.C. — The U.S. Chamber of Commerce, along with a host of partner organizations representing a diverse cross-section of the American economy, issued a new report today that offers a slate of recommendations for strengthening U.S.

Press ReleaseApr 18, 2018 - 5:30pm

U.S. Chamber Statement on SEC Best-Interest Proposal Package

WASHINGTON, D.C. — U.S. Chamber Center for Capital Markets Competitiveness President and CEO David Hirschmann issued the following statement in response to today’s open meeting of the Securities and Exchange Commission (SEC): “We appreciate the efforts of the SEC that led to these proposals for a best-interest standard for all investors.

Above the FoldApr 10, 2018 - 2:00pm
Mick Mulvaney

The Time to Reform the CFPB is Now

Ahead of Acting Director Mulvaney's testimonies on Capitol Hill, the Chamber reasserts the need for CFPB reforms.

Above the FoldMar 28, 2018 - 9:00am
Keith Hernandez and Jerry Seinfeld.

Keith Hernandez, Game Winning RBI, and How Pay Ratio Strikes Out

The pay ratio will do nothing to improve our capital markets and little to improve the lot of working Americans.

Above the FoldMar 27, 2018 - 9:15am
The Dime Savings Bank of Williamsburgh in the Brooklyn.

Four Myths about the Senate’s Banking Bill and Why They’re Wrong

The bill is the first significant revision Dodd-Frank and is product of years of bipartisan negotiations.

EventMar 26, 2018 - 12:30pm to 2:00pm

The Future of Financial Regulation: A Conversation with New York Federal Reserve President Bill Dudley

Join the U.S. Chamber's Center for Capital Markets Competitiveness on Monday, March 26, for a discussion featuring Bill Dudley, President of the Federal Reserve Bank of New York. In one of his last public appearances, President Dudley will discuss regulatory reform.

Press ReleaseMar 23, 2018 - 10:45am

U.S. Chamber Releases CFPB Reform Agenda

Offers Recommendations for Improving Consumer Protection, Accountability

LetterMar 21, 2018 - 9:30am

Markup of H.R. 4861, H.R. 5051, H.R. 4659, and H.R. 5323

This letter was sent to the members of the House Committee on Financial Services in support of several bills that the Committee is marking up this morning: H.R. 4861, the "Ensuring Quality Unbiased Access to Loans (EQUAL) Act of 2018"; H.R. 5051, the "Public Company Registration Threshold Act"; H.R. 4659, "to require the appropriate Federal banking agencies to recognize the exposure-reducing nature of client margin for cleared derivates"; and H.R. 5323, the "Derivatives Fairness Act."

Above the FoldMar 20, 2018 - 3:00pm
John Minor Wisdom U.S. Court of Appeals Building in New Orleans.

Fiduciary Fallout: Court Strikes Down Labor Department’s Fiduciary Rule

Now, the SEC can take the lead on developing standards of conduct that serve all investors.

Above the FoldMar 19, 2018 - 9:00am
Senate banking bill passage

Banking Bill Can Fuel the Growth Engine

In a heartening display of bipartisan cooperation, the U.S. Senate passed a badly needed fix to banking regulations.