FOR IMMEDIATE RELEASE:                         CONTACT:  Erica Hurtt           

June 25, 2010                                                           (202) 457-8783

                                                                                (443) 977-8414              

FORUM STATEMENT ON COMPLETION OF FINANCIAL

REGULATORY REFORM CONFERENCE

WASHINGTON, D.C. – Financial Services Forum President and COO Rob Nichols released the following statement regarding the completion of the House-Senate conference on financial regulatory reform: 

"The Forum has long supported sensible financial regulatory reform that protects consumers, investors, depositors, and shareholders, while also ensuring our financial markets are competitive, innovative, and able to provide the capital necessary to fuel economic growth and job creation.  The legislation approved by House and Senate conferees this morning includes provisions that will achieve many of those goals, including the creation of a systemic risk council, a credible framework to wind down failing financial institutions of any size, and enhanced prudential supervision.

The legislation also includes provisions that could make it more challenging for financial institutions to carry out their central economic role, and therefore reduce ready access to the capital, credit, and other financial products that American businesses, workers, consumers, and homebuyers rely on. As this legislation moves forward, the Forum will continue to work constructively with policy makers to create a financial regulatory framework that will ensure institutional safety and soundness and systemic stability, while also fostering the conditions necessary to fuel economic growth and job creation." 

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The Financial Services Forum is a non-partisan financial and economic policy organization comprised of the CEOs of 19 of the largest and most diversified financial services institutions doing business in the United States.

The purpose of the Forum is to pursue policies that encourage savings and investment, promote an open and competitive global marketplace, and ensure the opportunity of people everywhere to participate fully and productively in the 21st-century global economy.