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 »
"The Federal Reserve’s action today is a scathing indictment of this Administration’s economic policies which, after almost four years, have failed to produce a sustainable recovery or put Americans back to work. The Federal Reserve cannot rescue the Administration from the consequences of failed economic and regulatory policies.
“The President promised us his policies… 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 »
A Financial Services Subcommittee hearing on Tuesday will examine the capacity of the insurance industry to offer terrorism risk insurance without a Federal backstop.
The Terrorism Risk Insurance Act (TRIA), a temporary risk sharing program created in 2002 to ensure consumers have access to terrorism insurance, is set to expire at the end of 2014. Members of the Insurance,… Read more »
Financial Services Committee Chairman Spencer Bachus on Thursday announced the Committee’s hearing schedule for the month of September.
Hearing on the Terrorism Risk Insurance Act: On Tuesday, September 11, the Subcommittee on Insurance, Housing and Community Opportunity will hold a hearing to examine the Terrorism Risk Insurance Act (TRIA), which was enacted in 2002 and is… 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 »
