WASHINGTON — The Government Accountability Office hosted a daylong forum June 11 to look at the desirability of merging financial services regulators, among other items.
The forum was "in response to a mandate from Congress," a GAO spokesperson said, that came out of the Financial Services Regulatory Relief Act. The event was held at the GAO's Northwest Washington headquarters and was not open to the press.
NCUA and NAFCU took part in the event, but declined to comment at this point. Also participating, according to GAO were the four banking regulators, the Securities and Exchange Commission, the Commodity Futures Trading Commission,
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and the Conference of State Banking
Supervisors as well as representatives from the industry and academia.
"If need be, we will also follow up with other people who have insight into the questions we're looking at and continue to look at," GAO Director of the Financial Markets and Community Investment Teams Yvonne Jones said. GAO has until Oct. 13 to report back to Congress.
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