Too Big to Fail & Systemic Risk (Including Systemic Risk)

The Wall Street financial crisis and government intervention of 2008 affirmed that the nation’s largest megabanks are “too big to fail”—so big and interconnected that the government will not allow them to fail.

As ICBA details in its “End Too-Big-To-Fail” study, too-big-to-fail distorts free markets, incentivizes risky behavior, leaves taxpayers on the hook, and creates unfair competitive advantages for the largest banks. Meanwhile, community banks face oppressive regulatory burdens as a direct result of megabank misdeeds.

A less concentrated and more diverse financial system would decrease systemic risk, improve competition and innovation, and increase the availability of consumer credit. ICBA and the nation’s community banks are dedicated to ending too-big-to-fail.

Articles & Press Releases

Title Publication Date
ICBA Supports Senate Community Bank Regulatory Relief Agreement Press Release 11/13/17
ICBA: Compliance Costs Exacerbate Industry Consolidation Press Release 10/23/17
ICBA Denounces Megabanker Claim That U.S. Overbanked NewsWatch Today Article 10/23/17
ICBA Denounces Megabanker Claim of Too Many Banks Press Release 10/20/17
Fine: Wells Fargo Is Still Not a Community Bank NewsWatch Today Article 10/06/17
Wells Fargo Hearing Shows Arbitration Fallout NewsWatch Today Article 10/04/17
GSEs, Wells, Equifax in Focus This Week NewsWatch Today Article 10/03/17
ICBA Tackles Wells Fargo, Grassroots in New Op-Eds NewsWatch Today Article 10/02/17
SEC Chairman on Hill Following Hack NewsWatch Today Article 09/25/17
Wells Fargo, Equifax Execs Addressing Senate Panel Next Month NewsWatch Today Article 09/22/17
FTC Encourages Credit Freezes Following Equifax Hack NewsWatch Today Article 09/22/17
ICBA Seeks Hearing on Wells Fargo Abuses NewsWatch Today Article 09/12/17
ICBA’s Fine Calls for Removal of Wells Fargo Board NewsWatch Today Article 09/07/17
ICBA’s Cam Fine Reacts to Latest Wells Fargo Scandal News Press Release 09/06/17
Abacus Documentary Premiers in Nation’s Capital NewsWatch Today Article 06/26/17
ICBA Statement on Minneapolis Fed Plan to End Too-Big-To-Fail Press Release 11/16/16
ICBA Statement on Wells Fargo Fine for Illegal Sales Practices Press Release 09/09/16
ICBA Statement on Remarks from JPMorgan Chase’s Jamie Dimon Press Release 05/11/16
ICBA Statement to Federal Regulators: “No Bank Should be Too Big to Fail nor Too Big to Jail” Press Release 06/01/15
ICBA Statement on Bill to Break Up Too-Big-To-Fail Megabanks Press Release 05/06/15

Letters to Congress

Letter Supporting “Too-Big-To-Fail” Amendment to the Financial Regulatory Improvement Act of 2015

May 20, 2015, 01:00 AM
Recipient:
Senator Vitter
PubDate:
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Related Document


Letters to Regulators

Letter Supporting “Too-Big-To-Fail” Amendment to the Financial Regulatory Improvement Act of 2015

May 20, 2015, 01:00 AM
Recipient:
Senator Vitter
PubDate:
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Related Document


Testimonies

Title Committee Presenter Date
Senate Subcommittee On Financial Institutions and Consumer Protection
Written Statement
07/31/14
Senate Subcommittee on Financial Institutions and Consumer Protection
Written Statement
01/08/14

Summaries

Title Content Type Date