Fed’s Lockhart Urges Stability, Limits on Reform Costs

From businessweek.com

Federal Reserve Bank of Atlanta President Dennis Lockhart said regulators need to reform the U.S. financial system to ensure it is safer without imposing too great a cost on consumers and businesses. A successful financial overhaul “would be a resilient financial system with substantially reduced systemic risks and reduced overall risk of financial instability,” Lockhart said today at an Atlanta Fed conference in Stone Mountain, Georgia. “And it would mean an effective and efficient supervisory- regulatory system” that serves consumers “while not imposing excessive costs of compliance on participants.” ... (full story)