Financial holding companies; Americans for Financial Reform, Roosevelt Institute
Banking and Finance Law | Commercial Law
!is essay explains the legal basis for, and examines public policy implications of, recent expansion of large U.S. financial holding companies’ non-financial business activities. Despite its potentially significant impact on economic growth and systemic stability, this phenomenon of financial conglomeration beyond finance remains poorly understood. Yet, any truly comprehensive and effective reform of financial services regulation must address public policy issues that arise when “too-big-to-fail” banks grow even bigger and more systemically significant by combining finance with commerce.
Omarova, Saule T., "Beyond Finance: Permissible Commercial Activities of U.S. Financial Holding Companies" (2013). Cornell Law Faculty Publications. Paper 1003.
Published in: An Unfinished Mission: Making Wall Street Work for Us: A Report by Americans for Financial Reform & the Roosevelt Institute (2013).