Ten years ago, bi-partisan leaders, including the U.S. Chamber of Commerce (Chamber) recognized that the United States’ financial regulatory system was out of date and harming America’s competitiveness in an ever increasing global economy. These bi-partisan voices called for a complete overhaul of our financial regulatory architecture, moving it from the days of the Model T into the 21st century. Since the 2008 financial crisis, some efforts have made limited progress to fix these flaws, but the overall responses—legislative and regulatory—have made the regulatory system more cumbersome, more inefficient, and a decade older
