Testimony before the U.S. Senate Banking Committee: ‘Fostering Economic Growth: Midsized, Regional and Large Institution Perspective’

Abstract

This written statement accompanied Professor Omarova’s oral testimony given on June 15, 2017, in a hearing held by the U.S. Senate Banking Committee on the necessity of relaxing certain aspects of post-crisis financial regulation applicable to midsized, regional and large banks, as a means of fostering America’s economic growth. In her written statement, Professor Omarova systematically lays out the reasons why massive deregulation urged by the banking industry will hinder, rather than foster, sustainable long-term growth in the real (i.e., non-financial) sector of the American economy.