By Joseph Lawler
Megabanks would not be interested in the deal that House Republicans are offering them, Congress' in-house budget experts concluded in a report issued Thursday evening.
House Republicans have advanced a bill, the Financial Choice Act, that would offer banks the option to get out of many of the new rules implemented in the wake of the 2008 financial crisis on the… Read more »
Financial Services Committee Chairman Jeb Hensarling (R-TX) joined Maria Bartiromo on Fox News to discuss the Republican plan to end bailouts and create economic opportunity for all Americans.
On the Dodd-Frank mistake:
"They promised us it would lift the economy, instead we're mired in the slowest, weakest recovery in the post-war era. They said it would end… Read more »
By Stephen E. Hessler
The most significant Wall Street reform in nearly a decade may soon become law. Last Friday President Trump directed Treasury Secretary Steven Mnuchin to review Title II of the 2010 Dodd-Frank Act, which gives the federal government authority to wind down involuntarily failing financial institutions. Treasury is to issue a report that considers whether changing… Read more »
April 20, 2017
CNBC
Former Federal Reserve Chairman Alan Greenspan told CNBC on Thursday the prospect of getting rid of the Dodd-Frank banking regulations has been a driver of higher stocks and would continue to be.
"If you get rid of Dodd-Frank, it's going to have a very significant positive impact on the economy," he said on "Squawk on… Read more »
By David B. Rivkin Jr. and Andrew M. Grossman
Wall Street Journal
The greatest mystery in Washington involves not Russian spies or wiretaps but Richard Cordray’s continued employment as director of the Consumer Financial Protection Bureau. In the face of President Trump’s mandate for change, Mr. Cordray continues the Obama administration’s regulatory crusade against lenders, blocking… Read more »
"Legal experts warned the Consumer Financial Protection Bureau that its proposal to force companies under investigation to keep quiet about the probe might violate free speech rights."
-The Wall Street Journal, 10/28/2016
"The proposed rule would keep investors, shareholders and the public in the dark about federal… Read more »
“What appears to be obvious is that two million Americans just got ripped off by their bank and they got let down by their government. And so I’m not sure that Mr. Stumpf had all the answers. We’re giving him now, he’s got over a full week to prepare, to go back, to do his homework…We have demanded documents from Wells Fargo, from the Office of Comptroller of the… Read more »
“We are going to get to the bottom of this, because potentially millions of customers have been ripped off by Wells-Fargo and they’ve also, in many respects, been ripped off by their government… How does this go on so long? Why does it take the L.A. Times to break this story, when we’re paying federal investigators to investigate?"
… Read more »
WASHINGTON – On Tuesday, Financial Services Committee Chairman unveiled the details of the Financial CHOICE Act – the Republican plan to replace the Dodd-Frank Act and promote economic growth. Support for the plan has been as overwhelming as the job-crushing regulations the bill will repeal. Here is what some experts are saying:
“…a true reform agenda designed to jump-start the economy… Read more »
