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Keyword: doddfrank

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  • 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...
  • Drain the swamp? Dismantling Dodd-Frank is a good place to start

    02/28/2017 1:55:27 PM PST · by davikkm · 6 replies
    washingtontimes ^ | Norbert J. Michel
    Financial regulatory reform is coming. Donald Trump campaigned on a pro-growth regulatory reform message, promising to drain the swamp and dismantle the Dodd-Frank Act. Since entering the Oval Office, the president has reiterated this pledge, stating that his administration would “be cutting a lot out of Dodd-Frank,” and issuing two executive orders to get the process going. Now, House Financial Services Committee Chairman Jeb Hensarling, Texas Republican, is set to unveil a new version of his bill to replace large parts of Dodd-Frank. Still, it remains unclear exactly how this reform process will unfold. Here are three actions that will...
  • Yellen defends Fed independence, banking regulations

    02/15/2017 2:28:26 PM PST · by Olog-hai · 7 replies
    Associated Press ^ | Feb 15, 2017 4:00 PM EST | Martin Crutsinger
    Federal Reserve Chair Janet Yellen defended the central bank’s independence Wednesday from Republican lawmakers who are pushing for major changes in how the central bank operates and how regulators oversee the nation’s banking system. During a hearing that stretched over four hours, GOP lawmakers repeatedly challenged Yellen’s handling of the economy and her leadership in implementing the 2010 Dodd-Frank Act, a measure that President Donald Trump and Republicans have vowed to overhaul. Republicans pointedly told Yellen that she should realize that changes are underway with Republicans in control of the White House and both the House and Senate. “After eight...
  • JUST IN President Donald J Trump signs repeal of Dodd Frank provision

    02/14/2017 12:18:13 PM PST · by sheikdetailfeather · 104 replies
    You Tube ^ | 2-14-2017 | Time News
    JUST IN President Donald J Trump signs repeal of Dodd Frank provision
  • How House Republicans plan to defund Elizabeth Warren’s little agency of tyranny

    02/09/2017 1:48:06 PM PST · by Cheerio · 20 replies
    Canada Free Press ^ | February 9, 2017 | Dan Calabrese
    We told you on Monday about the special challenge Republicans face in what to do about the Consumer Finance Protection Bureau. It’s a totally out of control administrative agency gifted with immense powers by Dodd-Frank, and designed by its architect - Elizabeth Warren - to be almost impossible for a Republican to get a job at. Oh, and Congress is required by statute to fund it. CFPB’s director, left-wing zealot Richard Cordray? The president can fire him only “for cause,” and that’s a lot more complicated than at-will employment. Democrats designed the CFPB this way intentionally during the Obama Administration,...
  • Trump takes on CFPB, a regulatory agency set up by Elizabeth Warren so no Republican could ever work

    02/06/2017 8:55:43 AM PST · by Sean_Anthony · 3 replies
    Canada Free Press ^ | 02/06/17 | Dan Calabrese
    The tyranny of the administrative state. The Consumer Financial Protection Bureau is one of those things that sounds purely like the government helping out the sainted little guy against threats from the powerful and the predatory. And there’s a lot of danger in that. The CFPB was created by Democrats as part of the passage of Dodd-Frank in 2010, and Obama appointed left-wing stalwart Richard Cordray to wield the agency’s considerable power. Now Trump believes, correctly, that it’s time to rein Cordray and the CFPB in, which the political class sees as a case of evil Republicans undercutting the rights...
  • Cutting back Dodd-Frank? Don't count on it, says Mr. Frank

    02/03/2017 7:15:07 PM PST · by Olog-hai · 18 replies
    Associated Press ^ | Feb 3, 2017 6:36 PM EST | Dave Collins
    What’s Barney Frank’s take on President Donald Trump’s first action to scale back the landmark financial overhaul law that bears his name? Don’t bank on it succeeding, he says. […] Any scaling back of Dodd-Frank would have a difficult time getting through Congress, because many Republican lawmakers’ constituents favor policing Wall Street, Frank told The Associated Press in an interview. He spoke Friday after Trump signed an executive order directing the Treasury secretary to review the Dodd-Frank law. Trump has called the law a “disaster,” pledging to dismantle it. …
  • Stock market surges, as Trump puts financial sector in rally gear

    02/03/2017 12:57:38 PM PST · by John W · 12 replies
    Market watch.com ^ | February 3, 2017 | Wallace Witkowski and Ryan Vlastelica
    U.S. stocks rose Friday and traded in the final hour near session highs, led by a sharply higher financial sector as President Donald Trump took steps to roll back industry regulations. A stronger-than-expected January jobs report contributed to the upbeat sentiment. Despite the rise Friday, a negative week may still be in the cards, with pressure on the market linked in part to rising geopolitical uncertainty following reported spats between President Donald Trump and key foreign allies. The Dow is down 0.2% for the week, and the Nasdaq is off less than 0.1%. The S&P is up less than 0.1%...
  • Text of Trump’s order on financial regulation

    02/03/2017 1:50:01 PM PST · by Ernest_at_the_Beach · 19 replies
    Marketwatch ^ | Feb 3, 2017 4:07 p.m. ET
    U.S. President Donald Trump signs an executive order rolling back regulations from the 2010 Dodd-Frank law on Wall Street reform at the White House in Washington, U.S. February 3, 2017. The following is the text of the executive order signed by President Donald Trump, that is meant to be a first step toward limiting the power of the Dodd-Frank bank reform law. “By the power vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows: Home Economy & Politics Text of Trump’s order on financial regulation...
  • Trump to Order Dodd-Frank Review, Halt Obama Fiduciary Rule

    02/03/2017 8:01:21 AM PST · by ColdOne · 40 replies
    msn.com ^ | 2/3/17 | Justin Sink, Elizabeth Dexheimer and Katherine Chiglinsky/Bloomberg
    link only.... http://www.msn.com/en-us/money/markets/trump-to-halt-obama-fiduciary-rule-order-review-of-dodd-frank/ar-AAmzOmM?OCID=ansmsnnews11
  • Senate advances DeVos education nominee, repeals Dodd-Frank rules

    02/03/2017 6:19:13 AM PST · by GonzoII · 39 replies
    Washington Times ^ | Friday, February 3, 2017 | By David Sherfinski and Stephen Dinan
    President Trump’s out-of-the-box pick to lead the Education Department survived another hurdle, overcoming an attempted Democratic filibuster in a rare pre-dawn vote Friday. A final vote is slated for Monday. Democrats have made Betsy DeVos, the pick, one of their chief targets as they try to score a scalp from among Mr. Trump’s Cabinet nominees, saying the wealthy philanthropist doesn’t have the experience or dedication to public schools to run the federal department. Senate Minority Leader Charles E. Schumer called her “one of the worst nominees that has ever been brought before this body for a Cabinet position.”
  • Trump's team draws target on federal regulations

    12/31/2016 10:45:22 AM PST · by ducttape45 · 14 replies
    The Hill ^ | 12/31/2016 | Tim Devaney
    President-elect Donald Trump is stocking his administration with businessmen and regulatory reformers who are intent on cutting through what they see as red tape from Washington. Carl Icahn, the billionaire investor, will oversee the Trump administration’s regulatory reform efforts. He will be joined by several other Wall Street investors and corporate executives who have first-hand experience dealing with government rules. Here are six figures in the Trump administration poised to have an outsized role in scaling back regulations. Regulatory adviser Carl Icahn Trump created a new position in the White House for the billionaire investor to serve as a “special...
  • Trump Day One To-Do List: Repeal $1.7 Billion Of Dodd-Frank Rules

    12/07/2016 5:47:04 AM PST · by IBD editorial writer · 19 replies
    Investor's Business Daily ^ | 12/6/2016 | Staff
    Regulations: Donald Trump will have a busy first day if he plans to undo much of the damage inflicted on the economy by President Obama. Nevertheless, here's one more item to add to his list: Overturn $1.7 billion in Dodd-Frank rules. The Dodd-Frank financial "reform," passed by Democrats and signed into law by President Obama in 2010, is arguably the most misguided and economically harmful piece of legislation ever imposed on the country (the second, arguably, is ObamaCare). As we've noted in this space before, one of the main reasons the economy has been stuck in neutral for the past...
  • Trump Treasury Choice Steven Mnuchin Vows to ‘Strip Back’ Dodd-Frank

    12/01/2016 8:32:14 AM PST · by GonzoII · 10 replies
    WSJ ^ | Nov. 30, 2016 | Jacob M. Schlesinger
    WASHINGTON—Donald Trump’s choice for Treasury secretary said Wednesday that he would focus on rolling back parts of the landmark 2010 Dodd-Frank financial overhaul law enacted in the wake of the financial crisis. “The number one problem with Dodd-Frank is that it’s way too complicated and cuts back lending,” banker Steven Mnuchin told CNBC in his first public comments since being tapped by the president-elect to head his economic team. “So we want to strip back parts of Dodd-Frank and that will be the number one priority on the regulatory side,” Mr. Mnuchin said, according to a rush transcript of the...
  • Trump Meets With Former Banker Who Wants to End the Fed

    11/29/2016 1:43:58 PM PST · by VitacoreVision · 47 replies
    The New American ^ | 29 November 2016 | Bob Adelmann
    Donald Trump met with former banker John Allison (shown) on Monday in a meeting that was largely ignored by the mainstream media. It remains unclear whether Allison was being interviewed for the job of secretary of the Treasury or was just giving Trump some advice from a free market perspective.Either way, it’s a breath of fresh air in an era where statism and excessive hubris (the idea that mere politicians and economists can guide, even stimulate a $20-trillion-dollar economy with monetary policy) has reigned for decades.Right after graduating Phi Beta Kappa from the University of North Carolina in 1971, Allison joined...
  • 100 percent of Consumer Financial Protection Bureau's donations went to Democrats

    11/25/2016 6:32:03 AM PST · by SoFloFreeper · 7 replies
    The Consumer Financial Protection Bureau is the most partisan agency in the federal government in terms of donations to candidates, according to campaign finance data. Employees at the CFPB, which was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, contributed nearly $50,000 during the 2016 campaign with all of that money going to aid Hillary Clinton or her rival, the insurgent socialist Sen. Bernie Sanders, I-Vt. Agency employees made more than 300 donations during the campaign. Not one went to a Republican candidate. Rep. Sean Duffy, R-Wisc., a frequent critic of the agency, said that it is...
  • End Dodd-Frank? Unlikely, but consumer agency in crosshairs

    11/17/2016 3:11:15 AM PST · by McGruff · 17 replies
    AP ^ | November 17, 2016 | MARCY GORDON
    President-elect Donald Trump pledged in his campaign to throw out what he called stifling regulations, including the stricter financial rules that Congress built to prevent another crisis. Now, as his transition team asserts itself, an all-out repeal of the 2010 Dodd-Frank law — Trump called it a "disaster" and a "disgrace" — seems unlikely. But experts foresee a gradual but potentially significant chipping away of key parts of the law... The transition team's stated goal is a stark one: "To dismantle the Dodd-Frank Act and replace it with new policies to encourage economic growth and job creation."