Orange County Register

The Obama administration released details of its ambitious plan to retool oversight of banks and other financial firms. According to a release from the U.S. Treasury Department, the plan will:

• “Require that all financial firms that pose a significant risk to the financial system at large are subjected to strong consolidated supervision and regulation
• Increase market discipline and transparency to make our markets strong enough to withstand system-wide stress and the potential failure of one or more large financial institutions
• Rebuild trust in our markets by creating the Consumer Financial Protection Agency to focus exclusively on protecting consumers in credit, savings, and payment markets.
• Provide the government with the tools needed to manage financial crises so it is not forced to choose between bailouts and financial collapse
• Raise international regulatory s! tandards and improve international coordination”

And here are links to key documents.

For a white paper by the Obama administration on reform, CLICK HERE.

For a fact sheet on stronger supervision of all financial firms,  CLICK HERE.

See a fact sheet on regulation of core markets, HERE

Find details on consumer protection, HERE.

Details on managing failed institutions, HERE.

More on improving international regulation, HERE.

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