The Chamber will defend America’s financial institutions and our capital markets from destructive attacks. We should be praising and perfecting our capital markets as a crown jewel of our economic system—not trying to tear them down.
With this agenda for the next administration, we provide some answers and suggestions for the executive and legislative branches and regulatory agencies, both domestic and global.
While we do not expect to have all the answers, we think it is important to have a debate of ideas, instead of competing sound bites, so we can make 2017 the year of progress rather than another year of plodding along.
The U.S. Chamber of Commerce surveyed more than 300 corporate finance professionals about their core financial services needs and the indirect regulatory impact of all the newly adopted financial regulations.
What we heard was a particularly strong and growing concern for the ability of businesses to access credit and to manage cash flow and liquidity due to existing and pending regulations.
On June 22, 2016, U.S. Chamber President and CEO Tom Donohue spoke at Nasdaq in New York City on how the vilification of America's financial institutions are slowing the growth of the country's economy.
The Chamber is leading the fight on defending America's financial system and ensuring that Congress and the next president focus solely on a pro-growth agenda.
Preserving the Right to be Heard: Ensure there is an open and vigorous debate about how best to regulate financial markets by fighting bad choices and pushing back on those who seek to intimidate and suppress real debate.
Show the Impact, Starting at the Local Level: Document and communicate the cumulative impact of regulation, including the ability of companies small and large to access the financial services they need to grow their business and manage their financial risks.
Advance Transparent Regulation, at the Federal Reserve and elsewhere: Ensure that the Federal Reserve lives up to the same standards of transparency and due process required of other regulators. Also, address conflicts and lack of coordination among the regulators and advance reform recommendations at the SEC, FSOC, and proxy advisory firms. On July 12, the Chamber released its Federal Reserve Reform Agenda, which recommended eight reforms the Federal Reserve could take to be more transparent and accountable in its regulation of America’s financial markets and the Main Street businesses that rely on it. You can read the full agenda here.
Directly Engage on Regulations that Thwart Main Street Growth: Challenge policies that prevent businesses from obtaining credit or managing cash, such as, Basel III capital rules, stress tests, and the Volcker Rule. Other priorities include: incentive compensation, the Department of Labor’s fiduciary duty rule, and the CFPB’s arbitration rule.
Prevent the Use of Financial Services and Budgetary Slush Funds at the Federal and State Level: Fight punitive taxes and stop enforcement practices by multiple layers of federal, state, and international officials. Continue to push for SEC enforcement reforms including due process, preservation of jury trial, and right of removal.
Tom Donohue will outline the U.S. Chamber's pro-growth agenda, which includes reforms necessary to achieve a well-regulated system that protects consumers, preserves consumer choice, promotes capital formation, and spurs innovation.
This Key Vote letter supporting H.R. 6427, the “Creating Financial Prosperity for Businesses and Investors Act,” and H.R. 5143, the “Transparent Insurance Standards Act of 2016,” was sent to all Members of the U.S. House of Representatives.
Halloween may be just around the corner, but corporate treasurers are more likely celebrating Dia de los Muertos – “Day of the Dead” – to honor prime money market funds (MMFs). This two-day holiday, which begins November 1st, originated in Mexico to remember deceased loved ones. Just like a deceased loved one, prime MMFs are now a ghost of wh
This letter was sent to all Members of Congress from more than 120 business organizations across the country expressing concern about finanical regulations that are cutting of Main Street businesses from credit and the financial resources they need to grow and create jobs.
This letter was sent to the members of the House Subcommittee on Financial Institutions and Consumer Credit in advance of their hearing on examining legislative proposals to expand consumer access to mainstream banking services.
Letter sent to House Financial Services Committee Chairman Jeb Hensarling and Ranking member Maxine Waters regarding the Chamber's support of the Committee's continued oversight of the Federal Reserve and the agency's supervision and regulation of the finanical system.
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