Press Release: Financial Services Forum Announces Dr. Sean Campbell as Executive Vice President, Director of Policy ResearchJen Scungio
The Financial Services Forum (Forum) today announced that economist Dr. Sean Campbell will direct policy research at the organization. Dr. Campbell comes to the Forum from the Board of Governors of the Federal Reserve System, where he has led economic analysis of bank regulatory policy and conducted extensive research on the links between financial markets and the macroeconomy.
Press Release: Financial Services Forum Announces Barbara Hagenbaugh As Executive Vice President And Head Of CommunicationsEditor
Today, the Financial Services Forum (Forum) announced Barbara Hagenbaugh will join the organization as Executive Vice President and Head of Communications. Hagenbaugh comes to the Forum from the Federal Deposit Insurance Corporation (FDIC), where she has served as chief spokesperson for the agency in her capacity as the Deputy to the Chairman for Communications.
The Financial Services Forum (Forum) announced the appointment of Kevin Fromer as its new President and CEO. In his new role, Fromer will lead the Forum to promote a healthy financial system that supports economic growth and opportunity for all Americans. “Our members serve our clients each day with the capabilities we bring to help them compete, produce jobs, and drive the economy forward,” said Forum Chairman and Bank of America CEO Brian Moynihan. “Kevin has the experience to help us as we engage with policymakers on the best ways to promote growth and maintain financial stability.”
Press Release: Financial Trade Associations Comment on Banking Agencies’ Newly Issued Report on Banking Activities and Investments
In response to the Federal Reserve, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency’s report on banking activities and investments, Financial Services Forum, The Clearing House, American Bankers Association, SIFMA, and Financial Services Roundtable released a joint statement opposing the recommendations.
“Today’s CCAR results, together with the findings of the recent DFAST exercise, reflect the significant progress achieved since the financial crisis to improve the strength and resilience of the U.S. banking system. Since 2009, capital levels have doubled, liquidity has tripled, bank concentration has been significantly reduced, and regulators have successfully operationalized important new tools to address instability. As a result, the U.S. banking system has never been stronger and is now able to withstand the shock of even the highly unlikely severely adverse scenario imposed by CCAR."
Forum, Other Organizations Supporting EU-U.S. Financial Services Marketplace Form New International Coalition for Transatlantic Cooperation in Financial Regulation
An international group of fourteen trade associations and business groups recently announced the formation of a Transatlantic Financial Regulatory Coherence (TFRC) Coalition. The Coalition, which represents a large part of the transatlantic financial services community, has been brought together by a strong and shared belief on both sides of the Atlantic that improving regulatory cooperation between the U.S. and EU must be a priority. It believes that a comprehensive Transatlantic Trade and Investment Partnership (TTIP) that includes both market-opening measures and a framework for regulatory coherence in financial services is the best way of achieving this.