Results tagged “Senator Durbin” from Regulating Wall Street

Micro-Managing Again!


You might think that the Senate has enough to do attempting to save the country from another financial crisis. Measuring and regulating systemic risk, orderly liquidation of failing financial institutions, Freddie and Fannie, rating agencies--the list of critical issues is long and the problems are complex. However, significant regulatory reform is apparently not enough to keep our diligent Senators busy. A couple of weeks ago Senator Tom Harkin took the time out to propose capping ATM fees, and this past week the Senate approved an amendment put forward by Senator Richard Durbin to reduce the "swipe fees" that banks and other companies charge on credit and debit card transactions.


The Dodd-Frank Act, signed into law in July 2010, represented the most significant and controversial overhaul of the U.S. financial regulatory system since the Great Depression. Forty NYU Stern faculty, including editors Viral V. Acharya, Thomas F. Cooley, Matthew P. Richardson, and Ingo Walter, provide a definitive analysis of the Act, expose key flaws and propose solutions to inform the rules’ adoption by regulators, in a new book, Regulating Wall Street: The Dodd-Frank Act and the New Architecture of Global Finance (Wiley, November 2010).

About Restoring Financial Stability

Previously, many of these faculty developed 18 independent policy papers offering market-focused solutions to the financial crisis, which were published in a book, Restoring Financial Stability: How to Repair a Failed System (Wiley, March 2009).

About the Authors



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