Items Tagged with 'Dodd-Frank Act'

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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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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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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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Ted Cruz introduces bill to abolish CFPB

Texas senator partners with Rep. John Ratcliffe to reintroduce bill
While there appears to be some in the Republican Party who simply want to reform the Consumer Financial Protection Bureau, there are at least two Republicans on Capitol Hill who want to kill the agency altogether. The bills, introduced by Sen. Ted Cruz, R-Texas, and Rep. John Ratcliffe, R-Texas, would repeal Title X of the Dodd-Frank Wall Street Reform Act, which would abolish the CFPB entirely.
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Monday Morning Cup of Coffee: An "inside" look at Gary Cohn's role in Trump administration

New York papers run competing profiles of former Goldman Sachs exec
Two of New York's biggest newspapers happened to publish competing (and somewhat similar) articles over the weekend that delve into the growing role within the Trump administration of Gary Cohn, the White House National Economic Council Director and a former top executive at Goldman Sachs. So what is Cohn's role? The Wall Street Journal and the New York Times are happy to tell you more.
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Why investors could see a $100 billion windfall from Dodd-Frank reform efforts

What happens to all that money if banks don’t need to hold excess capital?
A recent report from Kroll Bond Ratings Agency suggested that one area that the Trump administration should focus on in its regulatory reform efforts is the requirement that financial institutions hold capital to prevent the need for a bailout in a financial downturn. As a result of those requirements, the country’s six largest banks currently hold more than $100 billion in excess capital. So, what happens to all that money if the capital requirements are overhauled or eliminated?
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KBRA: This should be the focus of Trump's regulatory reform

End practice of holding capital as "panacea" for preventing crisis
President Donald Trump held to another one of his campaign promises last week, when he signed an executive order that is expected to begin the process of revamping (or replacing) the Dodd-Frank Wall Street Reform Act. The specific details of the Trump administration’s plan for financial reform were not contained in the executive order, but what should the Republican-led regulatory reform efforts focus on?
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Mixed reactions to Trump's push for Dodd-Frank overhaul

Unsurprisingly, of course…
As one might expect, the reactions to President Donald Trump’s initiation of the overhaul of the Dodd-Frank Wall Street Reform Act came in fast and furious after Trump signed an executive order on Friday that calls for the Secretary of the Department of the Treasury to begin reviewing Dodd-Frank. And unsurprisingly, those reactions varied wildly.
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Trump signs executive order to overhaul Dodd-Frank

Directs Treasury Secretary to review financial laws
As expected, President Donald Trump signed an executive order on Friday that begins to roll back the Dodd-Frank Wall Street Reform Act, the landmark legislation passed in wake of the financial crisis. “We’re signing new rules for regulating the U.S. financial system. It doesn’t get much bigger than that, right?,” Trump said just before signing the executive order.
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