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We could repeal Dodd-Frank. I think that would be a big help.
There are elements of Dodd-Frank that clearly need to be curtailed.
After Dodd-Frank, the big banks were bigger. The small banks are fewer.
Opacity on extreme levels is not addressed anywhere, including Dodd-Frank.
I'll be very clear about this: I'm not a fan of getting rid of Dodd-Frank.
The reality is that what we did in 2010 with the Dodd-Frank wasn't enough.
We need to repeal Dodd-Frank act. It is eviscerating small businesses and small banks.
There are parts [in Dodd-Frank] that I don't agree with. But, in total, it is what it is.
I think Dodd-Frank has contributed to a concentration of banking assets in the hands of a small number of banks.
Dodd-Frank has disproportionately burdened community banks, despite their having no role in the financial crisis.
The truth is that the banks that are really hurting under Dodd-Frank, really getting no relief, are the community banks.
In many respects, you can argue Dodd-Frank isn't even law. It's a license for unaccountable, un-elected officials to make law.
Dodd-Frank represents the greatest regulatory burden on our economy, more so than all the other Obama-era regulations combined.
I would drastically revise much of the Dodd-Frank financial-reform legislation, which I call the 'Bureaucrat Full Employment Act.'
I have and will continue to oppose any legislation that would undermine the important consumer protections provided under Dodd-Frank.
We now have power under the Dodd-Frank legislation to break up banks. And I've said I will use that power if they pose a systemic risk.
I have been working hard trying to implement Dodd-Frank reforms. We went through a terrible crisis in 2008. Many people lost their homes.
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.
We need to repeal and replace Dodd-Frank act. We need to make America fair again for all businesses, but especially those being run by small business owners.
Dodd-Frank is an important statute, but often when the government believes it's handling a particularly important issue, there can be a tendency to overreach.
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.
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.
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.
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.
Some of my colleagues are unwilling to vote for any Dodd-Frank reforms, partly out of the political fear that any reforms will be seen as reducing regulations on the financial sector.
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.
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.
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.
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.
If you ever had the misfortune of reading all 2,000 pages of Dodd-Frank, which I have done - and it almost killed me - basically, all it does is create a list of all the things it wants the Fed to fix.
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 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.
Otherwise, their only engagement I'm going to have with [Donald Trump] is fighting back against their attempts to undo Dodd-Frank, their attempts to destroy the Consumer Financial Protection Bureau and all of those things.
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.
We support too big to fail. We want the government to be able to take down a big bank like JP Morgan and it could be done. We think Dodd-Frank, which we supported parts of, gave the FDIC the authority to take down a big bank.
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.
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.
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.
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.
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.
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.
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.
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.
Certainly, some of the anti-bank rhetoric has shifted a little bit, but on either side of the aisle, there seems to be different tacts. On one side of the aisle, you see a proposed scaling back of Dodd-Frank. On the other, a proposed reinstatement of Glass-Steagall.
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.
Nearly every policy during the Obama years was anti-growth: tax increases; minimum-wage hikes; ObamaCare; Dodd-Frank regulations; massive debt spending; the Paris climate change accord; an EPA assault against American energy; massive expansions of food-stamps programs and more.
Created by Congress as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the CFPB was a direct response to the financial crisis and ensuing Great Recession that began with the subprime mortgage debacle and the unraveling of Lehman Brothers investment bank.
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.