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Keyword: doddfrank

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  • Here Are The 17 Dem Senators That Voted To Unwind Warren’s Financial Legacy

    03/06/2018 2:34:36 PM PST · by cotton1706 · 13 replies
    dailycaller.com ^ | 3/6/18 | Robert Donachie
    Seventeen Democrats voted to proceed on a bill that would roll back major portions of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. Senators voted 67-32 to end debate on a bill that takes aim at a number of the protective barriers Dodd-Frank put between consumers, banks and the greater economy in the wake of the 2007-2009 Great Recession. Michael Bennet of Colorado Tom Carper of Delaware Chris Coons of Delaware Joe Donnelly of Indiana Maggie Hassan of New Hampshire Heidi Heitkamp of North Dakota Doug Jones of Alabama Tim Kaine of Virginia Angus King of Maine Joe...
  • With Democratic support, Senate eyes rollback of banking law [Dodd-Frank]

    03/06/2018 5:30:56 AM PST · by Olog-hai · 10 replies
    Associated Press ^ | Mar 6, 2018 12:18 AM EST | Kevin Freking
    Ten years after a financial crisis rocked the nation’s economy, the Senate is poised to pass legislation that would roll back some of the safeguards Congress put into place to prevent a relapse. The move to alter some key aspects of the Dodd-Frank law has overwhelming Republican support and enough Democratic backing that it’s expected to gain the 60 votes necessary to clear the Senate. Several Democratic lawmakers facing tough re-election races this year have broken ranks with Minority Leader Chuck Schumer, D-N.Y. and Sen. Elizabeth Warren, D-Mass. The legislation would increase the threshold at which banks are considered too...
  • Judd Gregg: Elizabeth Warren and the CFPB

    12/07/2017 6:45:16 AM PST · by george76 · 18 replies
    The Hill ^ | 12/04/17 | JUDD GREGG
    Dodd-Frank financial regulation bill ... The Consumer Financial Protection Bureau (CFPB) was inserted in the bill, which passed on a partisan vote. All the Democrats voted for it. ... The power invested in the director of the CFPB was, and still is, unencumbered by any limiting authority of those elected to govern. He is a person who under Dodd-Frank answers to no-one. His agency receives its funding without any limitation or congressional oversight, as it has a “put” to the unlimited resources of the Federal Reserve rather than the congressionally-appropriated budget. The director of the bureau is essentially an unelected,...
  • Senate panel votes to roll back some Dodd-Frank requirements

    12/05/2017 6:29:55 PM PST · by Olog-hai · 1 replies
    Associated Press ^ | Dec 5, 2017 6:36 PM EST | Kevin Freking
    A Senate panel on Tuesday approved legislation that would provide banks and credit unions with relief from some of the stricter regulatory requirements put in place after the 2008 financial crisis. The bill, which was approved by a 16-7 vote, raises the threshold at which bank holding companies are considered too big to fail, thus subjecting them to financial stress tests and a capital-planning review. The threshold would increase from $50 billion to $250 billion. The panel rejected an array of amendments that senators said could unravel a bipartisan agreement crafted over several months. The bill is much narrower than...
  • Busted: Dick Durbin Exposed As Hypocrite For Railing Against Handwritten Changes to Legislation

    12/04/2017 12:24:10 PM PST · by Oshkalaboomboom · 7 replies
    Townhall.com ^ | Dec 04, 2017 | Guy Benson
    There are a few topics that usually elicit startling hypocrisy from both major political parties, depending on whether or not they hold power. One is judges and filibusters (although the GOP's application of the Reid Rule seems to have ended that debate), another is deficit spending (after applauding President Obama for nearly doubling the national debt over eight years, Democrats have rediscovered this problem, wielding it to oppose a plan to let Americans keep more of their own money), and yet another is good governance 'process.' The party in control tends to prize victory over pristine process, whereas the 'out'...
  • Newt Gingrich: President Trump is decisively reining in the left

    11/30/2017 5:44:46 AM PST · by RoosterRedux · 15 replies
    foxnews.com ^ | Newtie
    This CFPB was created by the 2010 Dodd-Frank Act and was largely designed by radical Senator Elizabeth Warren when she was an Obama advisor. Since the beginning, it has been used as a political weapon by the far Left as a way to intimidate businesses that the Left opposes ideologically. The CFPB consistently oversteps its bounds. It is prohibited from regulating car deals, yet it does so anyway. It is prohibited from collecting personal data from consumers, yet it does so at a scale that rivals the NSA’s most controversial data gathering operations. Further, the CFPB draws its funding from...
  • We Got a Vast, Unaccountable, Unconstitutional Agency Because Elizabeth Warren Compared Mortgages...

    11/29/2017 7:46:56 PM PST · by Cheerio · 6 replies
    The Washington Free Beacon ^ | November 29, 2017 | Elizabeth Harrington
    FULL TITLE - We Got a Vast, Unaccountable, Unconstitutional Agency Because Elizabeth Warren Compared Mortgages to Toasters. And we're the stupid ones Sixteen hundred bureaucrats with the power to charge billions in fines, with a $600 million budget outside of the congressional appropriations process, and all because Elizabeth Warren compared mortgages to toasters. "Of all the ideas that get published in … journals like that, not so many make it into law," Warren boasted in 2011, at the launch of the Consumer Financial Protection Bureau. She was referring to her essay "Unsafe At Any Rate," published by the "lefty" Democracy...
  • CFPB deputy director sues Trump to block Mulvaney as interim leader

    11/26/2017 7:40:08 PM PST · by E. Pluribus Unum · 71 replies
    The Hill ^ | 11/26/2017 | Sylvan Lane
    Replay Mute Loaded: 0%Progress: 0% -0:00 Share Fullscreen The deputy director of the Consumer Financial Protection Bureau (CFPB) on Sunday night sued President Trump in order to block Office of Management and Budget Director Mick Mulvaney from taking over as acting director of the agency. Leandra English, who was tapped by former Director Richard Cordray to be the acting director, filed a complaint in the United States District Court for the District of Columbia against Trump and Mulvaney, whom the president nominated to be CFPB's interim leader. The office of the CFPB’s head council is expected to challenge her suit,...
  • Guess who runs the Motion Picture Association of America in the Weinstein era

    10/20/2017 8:22:17 AM PDT · by afraidfortherepublic · 10 replies
    The American Thinker ^ | 10-20-17 | James V. DeLong
    It seems as though everyone and his publicist is commenting on Harvey Weinstein and the Hollywood sex culture, but there is an interesting exception: the Motion Picture Association of America.  The scandal is not noted on its blog, nor in its news section, nor in its press releases, nor in the recent speeches by its chairman extolling the First Amendment and the institution of copyright. One would normally expect a major trade association to be active on such a big issue, but the explanation for the silence seems pretty easy.  The MPAA chairman (until the end of this year, which...
  • Why Trump Must Fire Obama Holdover Cordray

    09/28/2017 12:53:46 PM PDT · by Twotone · 11 replies
    American Spectator ^ | September 27, 2017 | John Berlau
    In the private sector and during his short time as president, Donald J. Trump has never been shy about firing subordinates. Yet some powerful Obama holdovers seem to have a puzzling staying power. The recent decision of the Justice Department not to prosecute Lois Lerner for her alleged role in the Internal Revenue Service’s targeting of conservative non-profits brought criticism and also highlighted the fact that Obama’s appointee John Koskinen is still at the IRS’s helm. Even more frustrating is that Trump has yet to fire Consumer Financial Protection Bureau director Richard Cordray, despite Cordray’s actions that go directly against...
  • The Final Anniversary of the Failed Dodd-Frank

    07/22/2017 5:31:29 AM PDT · by Kaslin · 14 replies
    Townhall.com ^ | July 22, 2017 | Congressman Roger Williams
    Seven years after its launch in 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act has done nothing for American taxpayers besides provide 2,300 pages of impulsive and deceiving legislation. This disaster of a law has unfairly blanketed our entire financial system with more than 400 overreaching and costly mandates. Dodd-Frank was another ploy thought up by the Democrat-controlled Congress that was signed into law by President Obama in 2010. This failure, at best, was a Band-Aid disguised as the most significant piece of financial legislation of its time following the Great Recession. While there are many who argue...
  • GOP replacement for Dodd-Frank financial rules passes House

    06/11/2017 11:56:31 AM PDT · by Tolerance Sucks Rocks · 21 replies
    The Washington Examiner ^ | June 8, 2017 | Joseph Lawler
    House Republicans voted Thursday to replace the 2010 Dodd-Frank law with their own sweeping financial regulatory measure, the Financial Choice Act.The bill passed 233-186, with no Democratic support. One Republican, Walter Jones of North Carolina, voted no.Authored by Rep. Jeb Hensarling of Texas, the conservative chairman of the House Financial Services Committee, the bill is perhaps second only to the healthcare legislation Republicans passed last month in its scope and significance. Like the healthcare bill, it would undo one of Obama's top legislative achievements, the new rules imposed on the financial sector in the wake of the 2008 financial crisis....
  • While No One Was Looking, Congress Took A Huge Step Toward Fixing The Economy

    06/09/2017 3:50:35 AM PDT · by IBD editorial writer · 28 replies
    Investor's Business Daily ^ | 6/8/2017 | Staff
    Deregulation: Former FBI director James Comey's testimony before the Senate Intelligence Committee was the fixation of Washington on Thursday. But the big story was on the House side of Congress, which passed a bill to repeal the ruinous Dodd-Frank banking law. The Financial Choice Act, approved in the House by a 233-to-186 vote (no Democrats voted for the bill), has generated almost zero attention. But it has the potential to be the most economically beneficial legislation Congress will consider this year. Put simply, Dodd-Frank has been a complete failure. Signed into law by President Obama almost seven years ago in...
  • Dodd-Frank Has Crippled Our Economic Recovery. This Bill Will Unleash Real Growth Again.

    05/20/2017 8:23:02 PM PDT · by ForYourChildren · 31 replies
    Dailty Signal ^ | 05/18/2017 | Sondra Clark
    Have you noticed that free checking accounts are now nearly nonexistent, and locally owned stores are increasing the $5 minimum charge on debit cards? These are not the result of some financial conspiracy. They are a direct result of Dodd-Frank regulations. After the financial crash of 2008, President Barack Obama decided to increase the role of the federal government in the economy and impose massive new regulations on banks. As one might assume, this hasn’t worked out so well. Included in the over 3,500-page Dodd-Frank bill are rules restricting access to credit for investors and homebuyers, raising lending costs for...
  • Stocks drop after Trump says he's actively considering breaking up big banks

    05/01/2017 9:59:01 AM PDT · by gwjack · 77 replies
    CNBC.com ^ | 5/1/2017 | CNBC Staff
    Stocks drop after Trump says he's actively considering breaking up big banks Headline only at this time.
  • Trump entertains breaking up big banks with Glass-Steagall

    05/01/2017 4:48:53 PM PDT · by huldah1776 · 22 replies
    WASHINGTON EXAMINER ^ | May 1, 2017 | Joseph Lawler
    [txt on image] Trump: Considering Rewrite or Elimination of Dodd-Frank President Trump entertained the idea of breaking up big banks Monday, sending major Wall Street stocks lower. Trump suggested that he is considering reinstating some form of Glass-Steagall, the repealed law that for decades mandated a separation between commercial and investment banks. "There's some people that want to go back to the old system, right? So we're going to look at that," Trump said when asked about the policy by Bloomberg.
  • Trump Starts Taking Steps to Dismantle Obama-Era Financial Regulations

    04/21/2017 7:08:22 PM PDT · by Innovative · 2 replies
    Fortune ^ | Apr. 21, 2017 | AP
    Hoping to spur economic growth, President Donald Trump embarked Friday on new steps to dismantle some of the tax and financial regulations established by former President Barack Obama. Trump signed an executive order to review any major tax regulations set last year by his predecessor, as well as two memos to potentially revamp or eliminate fundamental elements of the 2010 Dodd-Frank financial reforms passed in the wake of the Great Recession. "This is really the beginning of a whole new way of life that this country hasn't seen in really many, many years," the president said before signing the measures...
  • Trump eyes changes to Obama's tax and Wall Street rules

    04/21/2017 5:13:56 PM PDT · by Olog-hai · 5 replies
    Associated Press ^ | Apr 21, 2017 3:59 PM EDT | Josh Boak and Jill Colvin
    Hoping to spur economic growth, President Donald Trump embarked Friday on new steps to dismantle some of the tax and financial regulations established by former President Barack Obama. Trump signed an executive order to review any major tax regulations set last year by his predecessor, as well as two memos to potentially revamp or eliminate fundamental elements of the 2010 Dodd-Frank financial reforms passed in the wake of the Great Recession. […] The review of tax regulations could give greater leeway to companies looking to shelter income overseas, or simply seeking to reduce the time and money spent on completing...
  • Trump to order U.S. Treasury to delve into taxes, post-crisis reforms

    04/20/2017 7:20:09 PM PDT · by Innovative · 12 replies
    Reuters ^ | Apr. 20, 2017 | Lisa Lambert
    U.S. President Donald Trump will order the Treasury on Friday to find and reduce tax burdens and review post-financial crisis reforms that banks and insurance companies have said hinder their ability to do business. A White House official said on Thursday that Trump will issue an executive order directing the Treasury on the tax issues. He will also issue two memoranda asking for reviews of two parts of the 2010 Dodd-Frank Wall Street reform law - the Orderly Liquidation Authority that sets out how big banks can wind down during a crisis and the Financial Stability Oversight Council (FSOC), which...
  • Socialists Designed Obama's Credit Watchdog Agency

    08/22/2013 2:09:58 PM PDT · by Tailgunner Joe · 9 replies
    investors.com ^ | August 21, 2013 | PAUL SPERRY
    Socialist activists and their front groups played a shockingly outsized role shaping and passing the monumental financial reform legislation that authorized the creation of President Obama's powerful consumer credit watchdog agency. Their intimate involvement is revealed in a new book, "Financial Justice: The People's Campaign to Stop Lender Abuse," which offers a rare, if biased, behind-the-scenes look at the anti-bank movement's multimillion-dollar lobbying effort in support of the Dodd-Frank Act. Written by two leftist consumer advocates drawing from interviews with more than 30 of the activist-lobbyists, the book is a road map to their radical activities, from ginning up hatred...