report August 27, 2021 Building a more stable financial system: Unfinished business Twice in this still-young century central banks have had to take steps, unprecedented in size and scope, to limit the economic fallout from financial instability. While we can’t expect a financial system to withstand an overnight shut down of the global economy like we experienced in March 2020 without support from central banks and fiscal authorities, the financial market... By Brookings Institute, Financial Regulation Brookings Institute
report August 26, 2021 The future of money: The end of cash and the rise of digital currencies Are we heading for a cashless future? Eswar Prasad, a senior fellow at Brookings and author of the forthcoming book, “The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance,” thinks so. Credit card and cell phone payments have disrupted the physical cash market already, but Prasad says the real driving force will be central banks—as... By Brookings Institute, Financial Regulation Brookings Institute
report August 26, 2021 The future of money: The end of cash and the rise of digital currencies Are we heading for a cashless future? Eswar Prasad, a senior fellow at Brookings and author of the forthcoming book, “The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance,” thinks so. Credit card and cell phone payments have disrupted the physical cash market already, but Prasad says the real driving force will be central banks—as... By Brookings Institute, Financial Regulation Brookings Institute
report August 17, 2021 Where are the Biden financial regulators? Seven months into the Biden administration and despite rising attention to a host of diverse issues in financial regulation and monetary policy—notably concerns about inflation, central bank digital currencies, retail investing, stablecoins—the president has shown little appetite for filling pending vacancies in the financial regulatory agencies beyond the occasional (and often inconsistent) trial balloon. This is an old problem: Joe... By Brookings Institute, Financial Regulation Brookings Institute
report July 2, 2021 What role should the SEC play in ESG investing? Environmental Social Governance (ESG) issues continue to climb in importance for many investors and policy makers. What role should public policy and financial regulation play in response to ESG concerns? These questions are of particular importance for the Securities and Exchange Commission (SEC) tasked with protecting America’s capital markets and American investors. SEC Commissioner Hester Peirce will share her perspective... By Brookings Institute, Financial Regulation Brookings Institute
report July 1, 2021 The future of bank overdraft fees Bank overdraft fees have been on the rise for many years as income volatility rises and more Americans live paycheck-to-paycheck. Federal bank regulators have done little to help American families, failing to speed up America’s payment system to address one of the many root causes of overdrafts (slow deposit times) while giving a thumbs up to banks who choose... By Brookings Institute, Financial Regulation Brookings Institute
report June 21, 2021 Bank regulator’s True Lender Rule undercuts bank regulatory protections and shelters predatory lending A recent rule by the Office of the Comptroller of the Currency (OCC), a federal bank regulator, threatens to upend the rights and responsibilities between banks and their nonbank lender partners, displacing state regulators and subjecting consumers to predatory loans. The U.S. Senate has already, with a bipartisan vote, passed legislation to rescind the rule, using a mechanism called... By Brookings Institute, Financial Regulation, Uncategorized Brookings Institute
report May 18, 2021 Measuring the financial health of Americans Executive summary It is often said that what gets measured gets managed. It’s no wonder, then, that the federal government has been challenged to improve the financial health of American families. Despite all of the data the government collects and analyzes, the reality is that we do not have an accepted method of assessing financial health nor the right data... By Brookings Institute Brookings Institute
report April 13, 2021 Diversity within the Federal Reserve System A growing chorus has called on the Fed to diversify its ranks at all levels to reflect better the heterogeneity of the United States. So far most of these efforts speak to the diversity of the Fed’s principals, namely, the members of the Fed’s Board of Governors and the presidents of the twelve Federal Reserve Banks. In this study,... By Brookings Institute Brookings Institute
report March 25, 2021 Congruent financial regulation The turmoil that roiled financial markets after the first COVID-19 lockdowns in March 2020 underscores the need to better coordinate regulation of economically similar financial activities, whether inside or outside the banking system, according to a paper discussed at the Brookings Papers on Economic Activity (BPEA) conference on March 25. The paper—Congruent financial regulation by Andrew Metrick of Yale University... By Brookings Institute Brookings Institute
