Words matter. These are the best Dodd-Frank Quotes from famous people such as Stephen A. Schwarzman, Charles Schwab, Sherrod Brown, Thom Tillis, Jeb Hensarling, and they’re great for sharing with your friends.
Dodd-Frank has disproportionately burdened community banks, despite their having no role in the financial crisis.
I frankly think we in the financial service world believe we need appropriate kinds of regulations. No question about that. But when something like Dodd-Frank has been created, sort of in the mystery of night, it is a huge document. It’s vast. It weighs about 10 pounds when I carry it around.
If anything, one would think we learn from Brexit is we need a strong, stable banking system, not one to repeal the consumer bureau and repeal Dodd-Frank and give Wall Street what it wants. That would be the worst kind of response.
Democrats misinterpreted the mandate for change in 2008 as an ideological mandate to move the country sharply to the left. They rammed through policies like ObamaCare and Dodd-Frank with little, if any, bipartisan support.
In many respects, you can argue Dodd-Frank isn’t even law. It’s a license for unaccountable, un-elected officials to make law.
The number one problem with Dodd-Frank is it’s way too complicated, and it cuts back lending, so we want to strip back parts of Dodd-Frank that prevent banks from lending, and that will be the number one priority on the regulatory side.
Small lending institutions lack the capability of their larger counterparts to hire the additional manpower necessary to deal with the hundreds of additional regulations created by Dodd-Frank.
The few effective provisions of Dodd-Frank are masked by its many flaws – flaws that have been and will continue to be detrimental to the American economy and our financial future if not reversed.
We will reverse course on the heavy hand of regulation, discarding Dodd-Frank and any other regulations that advance a political agenda at the expense of jobs and investment on Main Street.
The SEC got more than 100 rules to write under Dodd-Frank, the lion’s share of all the agencies. And we’ve moved, I think, with a tremendous sense of urgency. But it takes a long time to write rules and get them approved by a five-member commission.
In the 1990s, the Democratic Party began to cozy up to their long-time enemies: Wall Street Bankers. They took their money and relaxed their regulations until the Great Recession forced the Democrats via Dodd-Frank to re-regulate the banks.
Governments need to be authorized to provide ‘open bank assistance.’ The convolutions of Dodd-Frank aimed at ‘avoiding’ this tactic are ludicrous and will prove to be extremely costly to the system.
I have and will continue to oppose any legislation that would undermine the important consumer protections provided under Dodd-Frank.
I would drastically revise much of the Dodd-Frank financial-reform legislation, which I call the ‘Bureaucrat Full Employment Act.’
Small businesses have suffered under the demands of Obamacare and community banks have scaled back lending due to stringent provisions of Dodd-Frank financial regulation.
It is crucial that the House exercises its oversight functions to ensure constitutional accountability of government agencies, especially as the bureaucracies associated with ObamaCare and Dodd-Frank flex their muscles and seek to expand their authority.
I am the candidate of tax cuts, repealing Obamacare, repealing Dodd-Frank, letting the markets work, coming up with patient-and-doctor-centered healthcare solutions instead of more big government – and just generally getting government off the backs of small businesses.
Under the Dodd-Frank law, the SEC got the lion’s share of the rules to write, more than 100 rules, and we have done an extraordinary amount of that. Eighty percent have been either proposed or adopted. So, a lot, a lot accomplished but of course, more to do.
A dramatic spending increase to fund the SEC and the CFTC, as envisioned by the authors of the Dodd-Frank legislation, would further the mindset that our nation’s problems can be solved with more spending, not more efficiency.
Opacity on extreme levels is not addressed anywhere, including Dodd-Frank.
The details of what the Fed did were kept secret until a provision in the Dodd-Frank Act that I sponsored required the Government Accountability Office to audit the Fed’s lending programs during the financial crisis.
We need to repeal and replace Dodd-Frank. We need to make America fair again for all businesses, but especially those being run by small business owners.
There’s a lot of talk coming from Citigroup about how Dodd-Frank isn’t perfect. Let me say this to anyone who is listening at Citi: I agree with you. Dodd-Frank isn’t perfect. It should have broken you into pieces.
The Orderly Liquidation Authority prescribed by Dodd-Frank should be repealed and replaced by an amendment to the U.S. Bankruptcy Code which would operate to prevent cross-default provisions from impacting derivatives books so long as mark-to-market payments are being made in a timely fashion.
I think Dodd-Frank has contributed to a concentration of banking assets in the hands of a small number of banks.
The basic architecture of Dodd-Frank makes sense. At the same time, as a number of regulators and legislators have observed, the act was a complex effort that produced thousands of pages of rules.
The truth is Mr. Trump could simply sit in the Oval Office for four years like a potted plant, and that would be a vast improvement over the Obama agenda, which was almost in every case – from tax increases to spending stimulus bills to Obamacare, Dodd-Frank, the war on fossil fuels, and so on – bad for growth.
New York City is the financial capital of the world. The Dodd-Frank Act, I think, is going to change that. It’s going to send jobs to London and Geneva and Hong Kong and Sydney instead of keeping New York the financial center of the world.
I mean, Dodd-Frank is strangling small community banks. It doesn’t make any difference what the interest rate is. They’re not – they’re not going to loan the money because they can’t make any money for one thing plus the cost of compliance.
There are elements of Dodd-Frank that clearly need to be curtailed.
Dodd-Frank represents the greatest regulatory burden on our economy, more so than all the other Obama-era regulations combined.
The major reform legislation, Dodd-Frank, was named after two guys bought and sold by special interests, and one of them should be shouldering a good amount of blame for the crisis.
Dodd-Frank greatly expanded the regulatory reach of the Federal Reserve. It did not, however, examine whether it was correctly structured to account for these new and expansive powers. Therefore, the Committee will be examining the appropriateness of the Fed’s current structure in a post Dodd-Frank world.
Wall Street’s biggest fight with Obama was over the Dodd-Frank Wall Street Reform and Consumer Protection Act, which Obama signed into law in the summer of 2010.
Dodd-Frank is a direct cause of the economic struggles millions of Americans continue to face today. The law provides so much regulation that it is a burden on the economy.
