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Dodd Frank roll back, step 1 - LeFlâneur - 06-09-2017 08:11 AM
Yesterday, the House passed a financial regulation bill aimed at rolling back many of the most anti-growth provisions of the Dodd-Frank legislation.
Dodd-Frank is built on the conceit that the same regulators who missed the last crisis will somehow predict the next one as long as they have more power. Democrats will call this a favor to Wall Street, but note that the biggest banks oppose the bill. They’ve prospered under Dodd-Frank because they can more easily absorb compliance costs than can smaller competitors.
Now it's on to the Senate.
Link to NPR
#schadenfreude
RE: Dodd Frank roll back, step 1 - UofMstateU - 06-09-2017 08:19 AM
Obama's and Hillary's banking buddies are weeping in the corner.
This will be great for small businesses once it passes.
RE: Dodd Frank roll back, step 1 - usmbacker - 06-09-2017 09:23 AM
Dodd-Frank has been terrible for community banks. It has to go.