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September 27, 2016, The Hill
John Dugan is quoted by The Hill in an article regarding the progress made in implementing Wall Street reforms. According to Dugan, praising regulators and the industry for making significant headway adopting and implementing rules, “We have this huge list of huge rules and we are coming to the finish line with it,” citing the regulatory mandates of the Dodd-Frank Act. “So much progress has been made and more has to be done but it is undeniable that the largest banks are much stronger in terms of capital and liquidity.”
Dugan adds that he hopes the new administration will carefully assess the completed rules and then take time to recalibrate because “some things clearly need to be fixed.” He continues, “Until they see very tangible effects of problems, regulators are hesitant to make changes.”