Complete Story
07/24/2014
GAO Report on TBTF Advantage Expected July 31
| A Government Accountability Office study on the economic benefits that too-big-to-fail financial firms receive due to actual or perceived taxpayer support is likely to be released on July 31, according to reports. American Banker reported that the release of the second part of the study requested by Sens. Sherrod Brown (D-Ohio) and David Vitter (R-La.) would coincide with a Senate Banking subcommittee hearing. According to the report, the GAO study will conclude that a too-big-to-fail subsidy exists and has shrunk, but could increase in the event of another crisis. The first part of the GAO study, released in November, detailed the various government-assistance programs that assisted the largest financial firms after the Wall Street financial crisis. ICBA supports the GAO study to gain needed information on the market distortion and risks that the largest financial firms pose and to help taxpayers better understand how these institutions affect the financial system. |
 |
