In the aftermath of the financial crisis that hit the global economy in 2007, changes to the nation's financial system are being proposed and debated. One key proposal came on June 17, 2009, when the Obama administration issued recommendations that would substantially alter how the U.S. financial system is regulated. As that idea and others are raised, discussed and implemented, this web site will track key developments.

What's Next?

Feb. 10, 2010 | Senate Subcommittee Hearing Notice

Equipping Financial Regulators with the Tools Necessary To Monitor Systemic Risk
Senate Subcommittee on Security and International Trade

Full Timeline |  E-mail Alert | Download PDF

Recent News

Feb. 4, 2010 | Senate Committee Hearing

The Senate Committee on Banking, Housing & Urban Affairs holds a hearing titled "Implications of the 'Volcker Rules' for Financial Stability."

Submitted Testimony
Feb. 4, 2010 | Senate Committee Hearing

The Senate Committee on Commerce, Science and Transportation holds a hearing titled "Financial Services and Products: The Role of the Federal Trade Commission in Protecting Consumers."

  • Statement from Sen. Jay Rockefeller IV, chairman, Senate Committee on Commerce, Science and Transportation
  • Testimony from Jon Leibowitz, chairman, Federal Trade Commission
Feb. 2, 2010 | Senate Committee Hearing

The Senate Committee on Banking, Housing & Urban Affairs holds a hearing titled "Prohibiting Certain High-Risk Investment Activities by Banks and Bank Holding Companies."

  • Statement from Sen. Tim Johnson (D-S.D.)
  • Testimony from Paul Volcker, chairman of the President's Economic Recovery Advisory Board, and former chairman, Federal Reserve Board of Governors
  • Testimony from Neal Wolin, deputy secretary, U.S. Department of the Treasury
Jan. 21, 2010 | White House Press Release

President Barack Obama announces a financial reform proposal that would place restrictions on the size and scope of banks and other financial institutions. The proposal would, among other things, prevent firms that own banks from sponsoring, owning or investing in hedge funds, private equity firms or engaging in proprietary trading operations for their own profit and that are unrelated to serving their customers and place broader limits on the market share of liabilities at the largest financial firms.