Links in “Dodd-Frank”
- Is CFPB’s Push to Reform Auto Finance Even Legal?
When Dodd-Frank was being formed, auto dealers had successfully lobbied to deprive CFPB jurisdiction over auto dealer financing. But that hasn't stopped the CFPB. What happened? [12/2/15]
- Point of Agreement in GOP Debate: Nobody Likes Dodd-Frank
Dodd-Frank is an "outrage" (Rubio), "vast overreach" (Bush), and ineffective in solving Wall Street's real problem, which is "too much greed" (Kasich). [11/12/15]
- CFPB Job Posting Signals Greater Attention to Business Lending
The CFPB is advertising a position with the title "Assistant Director for Small Business Lending Markets," a signal that the bureau may be stepping up its efforts to implement the small business lending data requirements of Dodd-Frank. [11/10/15]
- One Less Regulation! FDIC Eliminates Electronic Operations
As a result of the Dodd-Frank Act, the Electronic Operations regulation was transferred from the Office of Thrift Supervision to the FDIC in July of 2011. The FDICÂ has determined that this regulation is unnecessary and burdensome and therefore has elected to rescind it. Â [10/27/15]
- New HMDA Rule Requires Reporting of Many New Data Points
The Dodd-Frank Act required that the CFPB collect 17 pieces of data on the Loan Application Register (LAR). In its new HMDA rule, the CFPB decided to add 16 more data points to that list of items to be tracked and collected. Take a look here at the new comprehensive list. [10/26/15]
- Is Dodd-Frank Hampering Economic Recovery?
A review of studies finds that Dodd-Frank has been particularly harsh on community banks. You probably already knew that, but here's some evidence from scholars on the matter, plus how that has impacted small business and economic growth. [10/22/15]
- US Senator Shelby Hammers on Dodd-Frank
U.S. Senator Richard Shelby aka Chairman of the United States Senate Committee on Banking, Housing, and Urban Affairs, spoke actively against the benefits of Dodd-Frank at Harvard Law School. He commented on various flaws with the now 5 year old law including vesting "more authority in unelected, unaccountable bureaucrats," producing "thousands of pages of new, complex regulations and layers of new bureaucracy," and the need to "recognize its flaws and make the necessary changes.â [10/16/15]
- EMV Technology for Debit Cards a Much More Difficult Challenge
Why is implementing EVM technology lagging behind credit cards? As a result of the Durbin Amendment to the Dodd-Frank Act, debit cards in the U.S. must support routing to two different unaffiliated networks. EMV technology was developed to process EMV transactions for a single proprietary network. The challenge now is to bridge that gap. [10/14/15]
- House Hearing Slams Dodd-Frank
The House Financial Services Committee finds that Dodd-Frank has had the opposite effect of what was intended. [9/21/15]
- Testimony Reveals Dodd-Frank Has Increased Compliance Costs Five-Fold
During his testimony yesterday before the House Committee on Small Business Growth, Tax and Capital Access, Dixies FCU President/CEO Scott Eagerton reported that compliance costs at his $42 million credit union have risen from $20,000 per year to $100,000 per year since the passage of the Dodd-Frank Act. Julie Gordon, Senior Director of the Housing and Consumer Finance Center testified that small financial institution should be exempt from many of the CFPBâs rules. [9/18/15]
