The following article was published this week on the website BankCreditNews.com:
Free checking being wiped out by Dodd-Frank’s burden
The average required minimum balance for free checking rose to $723 this year, data reported by Bankrate.com showed on Monday.
Banks, in response to the economic climate and new regulations like Dodd-Frank and the Durbin Amendment, have been… Read more »
Oversight and Investigations Subcommittee Chairman Randy Neugebauer writes in today's edition of the Wall Street Journal about the lack of transparency and accountability at the Consumer Financial Protection Bureau, a government bureaucracy created by the Dodd-Frank Act:
A $447 Million Consumer Alert
By Randy Neugebauer
Should an unelected Washington bureaucrat be given… Read more »
(Bloomberg) -- A panel of U.S. regulators created to monitor financial stability faces challenges in achieving its mission of identifying risks and should improve its transparency, according to a report by the Government Accountability Office.
The Dodd-Frank law created the Financial Stability Oversight Council to highlight systemic risk to the economy and enhance cooperation among its… Read more »
(Reuters) - The new U.S. financial risk council should publicly share more details about its closed-door meetings on emerging risks to markets, a congressional watchdog report has found.
The Government Accountability Office said the Financial Stability Oversight Council, a group made up of the top U.S. regulators, fails to provide insight, even on information that is not… Read more »
More evidence of the unintended consequences of the Dodd-Frank Act:
“With passage of the Dodd-Frank law, the banking and financial services industries face uncertainty that has locked credit markets and access to capital. Many companies have viable, low-risk projects or contracts that simply need funding in order to begin work. However, overregulation in the banking sector has made… Read more »
The following editorial appeared in the Aug. 22, 2012 edition of the Charleston Daily Mail:
Wall Street regulation is felt on Main Street
In the aftermath of the 2008 financial meltdown, Democrats were in control of both houses of Congress. They passed another law to rein in the banking industry, already highly regulated.
The Dodd-Frank law did not simply rein in the big banks… Read more »
The following column appeared in the Wall Street Journal on August 17, 2012:
The Dodd-Frank Threat to U.S. Energy
Intrusive new disclosure rules by the SEC would give state-owned oil firms a big advantage in world markets.
By Jack Gerard
In a fragile recovery with 8.3% unemployment, you'd think Congress and government regulators would be concerned about rules that put American… Read more »
Rep. Shelley Moore Capito (R-W.Va.) chaired a House Financial Services subcommittee hearing Monday on how new regulations are affecting financial institutions, particularly those in her home state.
The Financial Institutions and Consumer Credit panel held the field hearing in Charleston, W.Va., courthouse.
“If we’re going to get our economy moving again, small businesses must have… Read more »
The Idaho Statesman: Idaho Businesses Say They're Jittery Over Economic Climate
August 13, 2012
By Bill Roberts
Uncertainty over taxes, national debt, growing government regulation and health care reform is hurting business expansion and job creation in Idaho, some Southwest Idaho business owners and regional business leaders told U.S. Sen. Mike Crapo on Monday.
"We… Read more »
By SPENCER BACHUS
Bernie Madoff. Matthew Hutcheson. Mark Spangler. If these names don't ring a bell, you are lucky. Reports indicate that thousands of investors lost billions in savings—in some cases an entire lifetime's worth—investing with these financial planners, investment advisers or "retirement coaches" who were accused of breaking the law and taking their money.
The federal… Read more »
