FDIC financial reform roundtables start Tuesday
As part of its new open-door policy to implementing financial reform, the Federal Deposit Insurance Corp. will hold the first of a series of roundtable discussions on Tuesday. The FDIC seeks greater transparency and officials hope the discussions jump start the process of creating the regulatory framework mandated under Dodd-Frank. "Now that Congress has acted and the President has signed the bill into law, it is in the regulators’ ballpark to implement the new reforms as quickly and openly as possible," FDIC chairman Sheila Bair said earlier this month. "I think transparency is a significant issue for each step along the way. We owe it to the public to have an open door policy so that people can see for themselves how financial services reform is going to be implemented." Tuesday's gathering (from 1 p.m. to 5 p.m. EDT) will focus on the new resolution authority provided in Dodd-Frank for the largest financial firms. Government officials, industry executives, academics, and investors will discuss the framework of the resolution process, the treatment of creditors and the creation of living wills, according to the FDIC. Write to Jason Philyaw.