BankThink Regulators need room to maneuver during next crisis

March 09, 2018
American Banker

The recently released Treasury report on OLA, which bluntly criticizes its “serious defects” and the “unchecked administrative discretion” it provides to the government, deserves significant credit and attention. Governments are rarely so accommodating and thoughtful when it comes to limiting their own authority. The stakes are significant since by authorizing the government to place the parent companies of banks, securities firms, insurance companies and asset management complexes into FDIC receiverships, OLA is the equivalent of economic martial law.

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