FOR IMMEDIATE RELEASE:                         CONTACT:  Erica Hurtt           

  July 15, 2010                                                           (443) 977-8414

FORUM STATEMENT ON PASSAGE OF FINANCIAL 

REGULATORY REFORM BILL

WASHINGTON, D.C. – Financial Services Forum President and COO Rob Nichols released the following statement on today's passage of financial regulatory reform legislation: 

"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 that will soon be signed by President Obama includes provisions that will achieve a number 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 Forum will continue to work constructively with the regulators charged with implementation of the legislation to create a financial  supervisory  framework that ensures 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.