Monthly Archives: October 2016

Carmen Segarra and Competing Visions of Bank Supervision

By | October 25, 2016

The below are edited remarks from a speech I delivered at the Rethinking Regulation Seminar hosted by Duke University’s Kenan Institute for Ethics on October 25th, 2016. Today I will talk about an episode that occurred early in my tenure at the New York Fed.  And I tell this story not simply because it is… Read More »

Using Living Wills to Break up Big Banks

By | October 11, 2016

One of the key areas of focus during Wells Fargo CEO John Stumpf’s recent congressional testimony, was the timeline of events that led up to him becoming aware of the problems within the company’s community banking division.  Despite the fact that the firm fired over 1,000 employees in 2011 for opening unauthorized customer accounts, and… Read More »

If Banks Sue the Fed Over Stress Tests, Will They Win?

By | October 7, 2016

Last month, the Wall Street Journal published an article indicating several big banks were considering a legal challenge to the Federal Reserve’s annual stress testing exercise based on a violation of the Administrative Procedure Act (“APA”).  The article was short on details, and to those familiar with the APA –  the statutory scheme governing all… Read More »

Effects of Regulatory Reform on Growth

By | October 5, 2016

After delivering a speech at a conference in Atlanta during the summer of 2011, then Federal Reserve Chairman Ben Bernanke received a pointed question from JP Morgan Chase CEO Jamie Dimon, who after listing several new post-crisis banking regulations, asked the Chairman: “Has anyone bothered to study the cumulative effect of all these things, and… Read More »