Treasury Under Secretary Miller Seeks Innovative Thinking to Tackle Future Crises

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter and Bank Digest.

Treasury Under Secretary for Domestic Finance Mary Miller asserted that as implementation of the Dodd-Frank Act continues, the government's resolve is “stronger than ever” to resist any attempt to roll back reform. Speaking Dec. 6, 2012, at an Office of Financial Research and Financial Stability Oversight Council conference, Miller emphasized that as the economy recovers, “we must remain vigilant about detecting emerging risks and taking appropriate action.”

Miller said the next financial crisis is “unlikely to look like the last,” which means that innovative thinking must occur. “New ideas must be applied to these problems and government cannot generate all of the good new ideas on its own,” she said. To help achieve that goal, Miller called for a partnership with academics, industry and other parties.