Posted on 11/17/2016 3:11:15 AM PST by McGruff
President-elect Donald Trump pledged in his campaign to throw out what he called stifling regulations, including the stricter financial rules that Congress built to prevent another crisis.
Now, as his transition team asserts itself, an all-out repeal of the 2010 Dodd-Frank law — Trump called it a "disaster" and a "disgrace" — seems unlikely. But experts foresee a gradual but potentially significant chipping away of key parts of the law...
The transition team's stated goal is a stark one: "To dismantle the Dodd-Frank Act and replace it with new policies to encourage economic growth and job creation."
(Excerpt) Read more at apnews.com ...
I take all these reports with a grain of salt. Donald likes to explore hypotheticals. That doesn’t mean he necessarily will abandon the gravamen of his original position.
Also... “As if there weren’t already riots in the streets?”
* Review all 4.
* Any nuggets of value in the 4 extract them.
* If not scrap them and start anew.
* Give the SEC some staff and money for enforcement.
* FINRA, bye-bye end of story.
Yes. End Dodd Frank.
Barney Frank covered his sorry arse with this law, blaming banks for a policy Frank demanded of them. It was his activity which required Banks to take sub sub prime mortgages and have them “insured”, bundled with prime mortgages.
Think about it, one could get a variable interest mortgage, $250,000 or less, without even submitting ones tax return.
Barney Frank owns that. The consumer law of Dodd Frank was designed to cover the complicity and downright fraud of Barney BJ Frank.
Frank did little genuine work, he was too busy operating a bend-over-boy hareem out of his Washington residence.
When Dodd -Frank is repealed, it is simply an act of taking out the trash.Kudos to those who accomplish its repeal.
Heh. The AP thinks it knows.
After what we learned during this election about just how far in the tank the media is for the Left, I don't believe anything they "report" without either seeing it with my own eyes or getting reliable corroboration of whatever is being reported.
Brilliant! (great minds think alike) :-)
Just today I saw picketers in my neighborhood with keep Dodd-Frank signs.
To hell with Dodd-Frank.
Reinstate Glass-Steagall.
End the Fed.
>>>Think about it, one could get a variable interest mortgage, $250,000 or less, without even submitting ones tax return.
So you are saying you want to repeal the law that now requires banks to confirm a borrowers ability to pay and also requires them to retain a percentage of the risk when they package their loans into a security?
The CFPB is totally unconstitutional, as declared by the US Court of Appeals, and consequently, un-American. It has no Board that oversees it such as the FCC or the FEC. It is not subject to appropriations, like the CIA (less so than the CIA). The Chairman can not even be removed by the President of the Congress.
It has subverted the will of Congress in the enabling legislations such as Truth in Lending, Equal Credit Opportunity, Electronic Records and Payments, Fair Debt Collection into every whim of the lefty libtard cabal.
I don’t give a sh$t what Elizabeth Warren thinks about this but this turd has to be flushed.
Further, the FDIC which needs to remain independent, but needs more supervision itself, must be stopped in its cabal with the libtard CFPB and DOJ for grievous sins like Operation Chokepoint, which choked off legal access to the banking and payments systems for legitimate businesses under the guise of money laundering regulation. We’re talking about family firearms businesses or fledgling entrepreneurs not even being able to open bank accounts.
Shiela Bair was a positive influence.
Who has ever read Dodd-Frank?
As bank auditor, I had to read it to ensure compliance and adherence to that sophomoric pile of garbage. The leftist contempt for the banking industry was oozing out of every paragraph.
I could not believe that I was actually reading a United States law.
Repeal that with extreme prejudice.
I’d be happy to see Dodd-Frank repealed, but at the same time, I would like to see Glass-Steagall brought back. Glass-Steagall would have prevented much of the 2008 fiasco without the vast and unnecessary regulatory apparatus of Dodd-Frank.
I had to read it to ensure compliance and adherence to that sophomoric pile of garbage>>>>>>>>>>>>>>>
I got the low down from my personal stock broker.He laughed himself silly.
He said its ludicrous. They are covering up the sub sub prime fiasco that Frank himself foisted on America.
And he is a Canadian Stick broker. He could not imagine how ANYONE could apply for a bank mortgage without any required income tax filings.And Frank originated a consumer law to protect future mortgage applicants? We need simply to be protected from the Barney Franks of HUD and Fannie Mae/FReddie Mac
They are still at it, lending sub sub-prime, high risk, otherwise uninsurable mortgages, insured now by the Federal Government. What a grift!
Like you I want the federal government out of the bank business, except for a reasonable law against usury.
Imagine whats about to happen! I am ready to cheer , hell for leather!
So you are saying you want to repeal the law that now requires banks to confirm a borrowers ability to pay and also requires them to retain a percentage of the risk when they package their loans into a security?>>>>>>>>>>>>>>>
No, they are still doing that, banks are not required to confirm ability to pay for sub sub prime mortgages. They have a different insurance scheme now..
All Dodd-Frank really did was to cover up what Frank himself had wrought, which was the purpose of the legislation, blaming the banks for debacle that happened, rather than taking responsibility himself. Then he got out of Dodge.
Now history says Frank and others did nothing,it was the banks they are angelic? ( Spit.)
They should be pilloried and ridiculed.
Repeal that piece of shit law and put in ordinary anti-usury laws against variable rate mortgages and ordinary proof of ability pay requirements.
>
To hell with Dodd-Frank.
Reinstate Glass-Steagall.
End the Fed.
>
I suspect the (R)\GOPe to do as is the norm for govt...nibble around the edges and shout, “Success!”.
Like your mind, FRiend. I’d even go further: NO WELFARE of ANY type, matter, shape or form.
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