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

Above the FoldJul 18, 2018 - 8:30am
Senate banking bill passage

Quick Take: Your Primer on the JOBS Act 3.0

The legislation will help small and mid-size businesses raise the capital they need to expand, innovate, and hire new employees.

Above the FoldJun 22, 2018 - 3:00pm
European Union and United States flags.

The European Union and United States Must Respect Their Financial Regulatory Differences

The EU has proposed a multitude of financial regulations that could discourage other countries from doing business in Europe.

Above the FoldJun 07, 2018 - 11:00am
Mick Mulvaney, acting director of the Consumer Financial Protection Bureau (CFPB), speaks at a Senate Banking, Housing & Urban Affairs Committee hearing.

We Have the Opportunity to Make CFPB More Accountable and Transparent

Recommended improvements include reforming how the bureau engages with industry and addressing concerns about its complaint database.

Above the FoldMay 22, 2018 - 9:00am
Yorvit Torrealba of the Colorado Rockies breaks his bat while batting.

CFPB Summertime Comment Series Swings into Action

This is a good opportunity to put the bureau on a solid footing.

Above the FoldMay 08, 2018 - 10:00am
Richard Cordray, former director of the Bureau of Consumer Financial Protection, testified before the Senate Banking Committee in 2016.

Henry Fonda May Have Something to Say to Richard Cordray

The Bureau of Consumer Financial Protection has the opportunity to make meaningful changes to create a more mature, data-driven agency.

Above the FoldApr 27, 2018 - 4:45pm
Dropbox's logo is displayed during the company's initial public offering at the Nasdaq MarketSite in New York City.

How to Beat the Crisis of the Vanishing IPO

The decline in public companies has created fewer opportunities for American families and businesses.

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.

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.