Janet Yellen Says Bank Deregulation May Have Gone Too Far
- Treasury secretary warns of costs imposed by financial crises
- Yellen also points to need for nonbank regulatory reforms
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Treasury Secretary Janet Yellen warned that deregulatory efforts that watered down some post-2008 financial reforms might have gone too far and contributed to the recent banking crisis.
“These events remind us of the urgent need to complete unfinished business: to finalize post-crisis reforms, consider whether deregulation may have gone too far and repair the cracks in the regulatory perimeter that the recent shocks have revealed,” Yellen said in the text of a speech she’s scheduled to deliver Thursday afternoon.