Scholarship@Cornell Law: A Digital Repository

Title

Beyond Finance: Permissible Commercial Activities of U.S. Financial Holding Companies

Authors

Saule T. Omarova, Cornell Law School

Document Type

Article

Publication Date

11-12-2013

Keywords

Financial holding companies; Americans for Financial Reform, Roosevelt Institute

Disciplines

Banking and Finance Law | Commercial Law

Abstract

!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.

Comments

This article predates the author's affiliation with Cornell Law School.

Recommended Citation

Omarova, Saule T., "Beyond Finance: Permissible Commercial Activities of U.S. Financial Holding Companies" (2013). Cornell Law Faculty Publications. 1003.
https://scholarship.law.cornell.edu/facpub/1003

Publication Citation

Published in: An Unfinished Mission: Making Wall Street Work for Us: A Report by Americans for Financial Reform & the Roosevelt Institute (2013).