Letter To Congress: Oppose HR 3312 — A Gift To Some Of The Largest Banks In The Country

“On behalf of Americans for Financial Reform, we are writing to express our opposition to H.R.
3312, the “Systemic Risk Designation Improvement Act of 2017.” This legislation is a gift to
some of the largest banks in the country. The cumbersome regulatory process laid out in this bill
puts unprecedented new constraints on the ability of the Federal Reserve to engage in safety and
soundness regulation of large regional bank holding companies even when regulators come to
the conclusion that action is needed. It would also end requirements on the Federal Reserve to
improve their previously inadequate oversight of large regional banks, a class of bank which
contributed significantly to the financial crisis.”

See link below for the rest of the letter:

AFR Opposition Letter HR 3312