Items Tagged with 'Dodd-Frank Act'


  • Senate Banking Committee introduces repeal of Dodd-Frank Act

    Housing industry stands in support of bill
    The Senate Banking Committee is set to begin its repeal of the Dodd-Frank Act, changing key aspects with a bill sponsored by Banking Committee Chairman Mike Crapo with nearly 20 co-sponsors on both sides of the aisle. But while most members of the housing industry support the bill, some say it encourages the finance industry to engage in the type of reckless lending that caused the Great Recession.
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  • Treasury report calls for extensive regulatory relief to finance industry

    Focuses on non-legislative reform
    As directed by President Donald Trump, the U.S. Treasury published a report Friday that calls for sweeping financial reform, including changes that would weaken the Dodd-Frank Act. The report claims regulations enacted after the Great Recession made it more difficult for financial institutions to recover, and made for one of the weakest economic recoveries in U.S. history. Here are some of the changes it calls for.
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  • Trump talks Dodd-Frank: We’re going to cut regulations tremendously

    Trump discusses regulatory rollback in wide-ranging New York Times interview
    In an expansive, wide-ranging interview with the New York Times, President Donald Trump stated that he would not have selected Jeff Sessions to serve as attorney general if he knew that Sessions would recuse himself from the investigation into Trump's suspected ties to Russia. And while that proclamation seems to be grabbing all the headlines, Trump also discussed a number of other issues, including his administration's push to roll back Dodd-Frank and the administration's efforts to cut regulations "tremendously."
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  • Federal Reserve: All banks passed stress tests again

    Largest banks in U.S. have enough capital on hand to survive “severe recession”
    On Thursday, the Federal Reserve announced the results of the annual stress testing, which showed that all 34 participating financial institutions are adequately capitalized and could withstand a "severe recession." It's the second year in a row that all of the participating banks passed the stress test.
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  • Housing industry's largest trade groups want CFPB director replaced by bipartisan commission

    MBA, NAR, ALTA, ABA, NAFCU, others ask Congress for changes to CFPB
    More than 20 of the housing industry’s largest trade groups are calling on Congress to enact legislation that would change the leadership structure of the Consumer Financial Protection Bureau from a single director to a bipartisan commission. The groups say that a bipartisan commission would help provide a "balanced" approach to financial regulation and supervision.
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  • Coalition of 20 state attorneys general urge Congress not to dismantle Dodd-Frank

    AGs of New York, California, Illinois, Massachusetts included
    While the House of Representatives is due to vote on the Financial CHOICE Act, the Republican-crafted plan to replace the Dodd-Frank Wall Street Reform and Consumer Protection Act, at some point this week, a coalition of 20 state attorneys general is urging the House leadership to consider the implications of such a vote and its impact on the Consumer Financial Protection Bureau.
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  • McConnell throws cold water on Republican Dodd-Frank repeal efforts

    Senate Majority Leader tells Bloomberg: "I'm not optimistic"
    The Financial CHOICE Act, the Republican-crafted replacement for the Dodd-Frank Wall Street Reform and Consumer Protection Act, may enjoy the support of the House Financial Services Committee, the Trump administration, and even President Donald Trump himself, but the Senate’s top Republican said this week that he believes that the bill may never make it to President Trump’s desk.
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  • Acting comptroller of the currency: It's a "good time" to look at Dodd-Frank

    Gives introductory speech to OCC staff
    Fresh in his new position as acting comptroller of the currency, Keith Noreika already publicly stated where he stands on Dodd-Frank reform. On Tuesday, Noreika gave a brief speech to OCC staff to introduce himself, and, as icing on the cake, wrapped up his speech giving a preview of where he stands on Dodd-Frank.
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  • Mnuchin declares support for Republican Dodd-Frank replacement

    Mnuchin: The existing regulatory system is limiting our economy
    The Financial CHOICE Act, the Republican-crafted replacement for the Dodd-Frank Wall Street Reform and Consumer Protection Act, took its first official steps towards becoming law on Wednesday. And as the bill moves through the legislative process, it will do so with the support of Steven Mnuchin, the secretary of the Department of the Treasury.
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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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