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Frank Proposes Broad Financial Regulator, Change in Capital Rules

WASHINGTON -- Congressman Barney Frank (D-Mass), Chairman of the House Financial Services Committee today proposed sweeping changes to the way the Federal Government regulates the financial services sector.

By David Morrison | Updated on March 20, 2008

WASHINGTON — Congressman Barney Frank (D-Mass), Chairman of the House Financial Services Committee today proposed sweeping changes to the way the Federal Government regulates the financial services sector.

Speaking in Boston to the Greater Boston Chamber of Commerce Frank, among other things, proposed establishing a Financial Services Risk Regulator that would regulate according to market behavior more than according to form of institution. He would also, according to a prepared statement, “consolidate the duplicative regulatory structure” and reassess capital margin and leverage requirements in the financial services system.

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