Chamber Pushes Back on “Living Wills” and Deficiencies in the Regulatory Process
The U.S. Government Accountability Office (GAO) report citing deficiencies with the living wills process and a press leak on the eve of earnings announcements provide further evidence that the system is broken.
- Chamber’s statement
- Letter to the Federal Deposit Insurance Corporation (pdf)
- Letter to the Federal Reserve (pdf)
Letter to the Federal Reserve regarding TLAC proposal
CCMC’s letter responds to correspondence regarding industry group comments on the TLAC proposal, while discussing CCMC’s concerns with the proposal, including its potential for raising the cost of capital and depriving businesses of the resources to grow by diverting working capital out of the markets.