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E Pluribus Unum -- Out Of Many, One: Why The United States Needs A Single Financial Services Agency, Elizabeth F. Brown
E Pluribus Unum -- Out Of Many, One: Why The United States Needs A Single Financial Services Agency, Elizabeth F. Brown
Elizabeth F Brown
The United States needs to consolidate the over 115 existing state and federal agencies that regulate banking, securities and insurance firms and their products and services into a single, federal financial services agency; a U.S. Financial Services Agency (“US FSA”). The US FSA would be able to more effectively regulate the U.S. financial services industry than the existing regulatory regime. The current U.S. financial regulatory regime suffers from a range of problems, including an inability to anticipate and plan for future financial crises, an inability by regulators to quickly adapt to market innovations and developments, inconsistent regulations for financial products …