CBA urges senators to boost Fed's authority

03/3/2010 | Hill, The

The Consumer Bankers Association and several other financial-services groups sent a letter to members of the Senate banking committee urging them to support giving the Federal Reserve authority to oversee small and large banks. "We understand that the primary responsibility for the Federal Reserve is monetary policy," the associations write in the letter. "However, we do not believe the monetary policy role should be separated from financial supervision. We believe that these two responsibilities are essential duties of a central bank."

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Hill, The

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