In 2014, the Securities and Exchange Commission (SEC) adopted new regulations for Money Market Funds (MMFs) which were implemented in Oct. 2016. The dust has now settled and we now know these regulations decimated both Prime and Tax Exempt, removing $1.2 trillion in capital from the private sector and raising the cost of borrowing for municipalities and businesses across America. HR 2319, the Consumer Financial Choice and Capital Markets Protection Act of 2017, restores some of the important features of MMFs and will allow capital to once again flow efficiently into America’s businesses and municipalities.
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