Items Tagged with 'Dodd-Frank'

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Wells Fargo clears living will hurdle; sanctions removed by Fed, FDIC

Successfully addresses issues in 2015 plan
It’s been a rough few months for Wells Fargo, but the megabank got a rare bit of good news on Monday when the Federal Reserve Board and the Federal Deposit Insurance Corporation announced that the bank successfully remedied the issues in its 2015 “living will,” which will remove a series of sanctions from the bank.
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More Republican representatives speak out against CFPB

Representatives reach out to constituents in local publications
The full version of the Republican-led Financial CHOICE Act, which aims to replace Dodd-Frank, is finally out after a lot of buildup on its coming release. So, as the hearing date to discuss it nears, more Republican representatives are vocalizing their opinions against Dodd-Frank and the Consumer Financial Protection Bureau and fight for the Financial CHOICE Act.
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Trump signs memorandum on Dodd-Frank's orderly liquidation authority

Along with another executive order and memorandum
President Donald Trump signed one executive order and two presidential memoranda on Friday, affirming once again that he plans to roll back many of the regulations put in place in the aftermath of the financial crisis. Unlike a broader past executive order designed to roll back the Dodd-Frank Wall Street Reform Act, Friday’s executive memorandum focused on the orderly liquidation authority part of Dodd-Frank.
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Get ready: Congress fires up Dodd-Frank, CFPB overhaul

Committee hearing date set for Financial CHOICE Act 2.0
The Dodd-Frank doomsday clock just ticked a little closer to midnight. The Republican-crafted plan to overhaul the country’s financial regulatory system and overturn many provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act is now one step closer to becoming a reality, as the House of Representatives is set to consider the Financial CHOICE Act.
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Monday Morning Cup of Coffee: Industry trade groups tell Senate how to fix financial regulations

MBA, CUNA weigh in on regulatory reforms
The main front for the Republican Party’s push for regulatory reform is in the House of Representatives, where an effort is underway to replace the Dodd-Frank Wall Street Reform Act with the Financial CHOICE Act. But the House isn’t the only place where regulatory reform is on the table. Here's a look at what some of the mortgage industry's biggest trade groups want the Senate to do about regulatory reform. All that, and more, in your Monday Morning Cup of Coffee.
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Rep: Here’s why Dodd-Frank needs to be rolled back

Too-big-to-fail efforts saved Wall Street but hurt small lenders
Taking a different approach than other Republicans on why Dodd-Frank needs to be reformed, Rep. David Kustoff, R-Tenn., penned a commentary for CNBC, explaining how the act has stifled the American Dream. To him, Dodd-Frank might have saved Wall Street from collapse, but it has also handcuffed community banks, regional banks, credit unions and other lenders.
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Trump floats complete repeal of Dodd-Frank

Tells CEOs that “elimination” of landmark financial rules is a possibility
Last week, President Donald Trump told a group of CEOs that his administration is planning a “very major haircut” on the Dodd-Frank Wall Street Reform Act. But Tuesday, Trump went even further, telling another gathering of CEOs that a full repeal of Dodd-Frank may be on the table. Click through to hear for yourself.
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House will hold off on Dodd-Frank overhaul vote

Priorities shift as house takes longer on health care
Trump’s administration continues to proclaim their dedication to financial reform and even an overhaul of the Dodd-Frank Act, but that reform will have to wait. As health care reform takes longer than expected, members of Congress gave insight as to when they think the House will vote on a Dodd-Frank overhaul.
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Trump: We're going to do a very major haircut on Dodd-Frank

Tells gathered CEOs that administration is "absolutely destroying" regulations
In the words of President Donald Trump, the era of “horrible regulations” is coming to an end. On Tuesday, during a gathering of some of the CEOs of the country’s largest companies, Trump told the crowd that his administration is working hard to “destroy” many of the regulations holding back the private sector - including Dodd-Frank - and plans to continue doing so.
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CFPB preps to review major mortgage rules

Falls under Dodd-Frank requirement
January 2018 marks five years since the Consumer Financial Protection Bureau finalized the qualified mortgage rule. The five-year anniversary means more than a landmark date of a major regulation though, as it also means the bureau is required to reassess its major mortgage rules. Will the CFPB use this process to change the mortgage market again?
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