Reining in the Regulators: Title VI of the Financial CHOICE Act
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Description
The drafters of the Financial CHOICE Act believe that the Dodd-Frank Act of 2010 mandated excessive regulation of the financial sector—especially banks—and also that U.S. financial regulators have not regulated wisely: both before and since Dodd-Frank. Although other parts of the CHOICE Act target specific provisions of Dodd-Frank (e.g., Title I provides an “off-ramp” from detailed Dodd-Frank regulation for well capitalized banks), Title VI addresses broader regulatory issues. In this chapter, we will address the following: • Requiring cost-benefit analyses of all financial regulatory proposals; • Requiring that Congress approve all major financial regulations; • Eliminating the “Chevron deference” to regulatory agencies; and • Requiring multi-person governing boards instead of single-heads of agencies.
Source Publication
Regulating Wall Street: CHOICE Act vs. Dodd-Frank
Source Editors/Authors
Matthew P. Richardson, Kermit L. Schoenholtz, Bruce Tuckman, Lawrence J. White
Publication Date
2017
Recommended Citation
Adler, Barry E.; Cooley, Thomas F.; and White, Lawrence J., "Reining in the Regulators: Title VI of the Financial CHOICE Act" (2017). Faculty Chapters. 9.
https://gretchen.law.nyu.edu/fac-chapt/9
