Links in “Dodd-Frank”
- Dire Predictions About Durbin Amendment Come True
When it was passed as part of Dodd-Frank, the Durbin amendment was predicted to enrich retailers at the expense of consumers and their financial institutions. Now, five years later, those predictions have been fully realized. [2/29/16]
- Minneapolis Fed: Must Be “Bolder” Than Dodd-Frank
Bolder, more transformation options, such as breaking the larger banks into smaller ones or turning large banks into public utilities, are options that need to be explored, according to the new president of the Minneapolis Fed, who says Dodd-Frank did not go far enough. [2/17/16]
- The CFPB’s Overdraft Missive Misses the Mark
The CFPB's concerns about unbanked and underbanked consumers are noble, but fail to appreciate what has caused the problem: over-reaching regulations from the CFPB and other agencies implementing Dodd-Frank. Pre-Dodd-Frank, 76% of all bank accounts were free to the consumer. In 2013, only 38% were. [2/5/16]
- “Too Small to Succeed”
Dallas Fed reports that many financial institutions may be "too small to succeed" in the era of regulatory onslaught brought on by Dodd-Frank. [1/12/16]
- CFPB Seeks Comments On Reg. C Resubmission Changes
In light of the expansion to HMDA, Regulation C, the CFPB has opened a 60-day comment period to obtain feedback on the rules for when financial institutions must resubmit HMDA data due to identified errors. In a separate letter, CUNA has blasted the agency for overreaching in its final rule that requires reporting on 48 data fields when the Dodd-Frank Act required reporting on only 17 fields. [1/11/16]
- Title XII of Dodd-Frank: Moving Small Dollar Loans from Payday Lenders to Financial Institutions
Ranking member of the Senate Banking Committee urges President Obama to prioritize funding for Title XII of Dodd-Frank, which has not yet been implemented. Title XII would provide federal grants and other support to financial institutions to make small dollar loans to end the "damaging effects of predatory lending." CBA's president points out the irony in all of this here. [1/7/16]
- “The Big Short” Player on The Big Disaster that is Dodd-Frank
"The biggest hope I had was that we would enter a new era of personal responsibility. Instead, we doubled down on blaming others, and this is long-term tragic." So said the featured player in the novel and movie "The Big Short" to New York Magazine in an interview. [1/5/16]
- GAO: Not Easy Figuring Out How Expensive Dodd-Frank Is
Dodd-Frank is impacting bottom lines of financial institutions, but it is still too early to say exactly how much, according to the GAO. Good to know. [1/4/16]
- Clinton Pledges to Go Well Beyond Dodd-Frank
While many Republican candidates are promising to roll back Dodd-Frank, Hilary Clinton pledges to fight for "tough, new rules, stronger enforcement, and more accountability. [12/14/15]
- Candidate Clinton: Going Beyond Dodd-Frank
Don't expect a Hillary Clinton White House to roll back any portions of Dodd-Frank. As president, she would "go well beyond Dodd-Frank." [12/8/15]
