Dodd-Frank was passed. ... This is the biggest kiss that's been given to New York banks I've ever seen. This is an enormous boon for them. There've been 122 community and small banks have closed since Dodd- Frank. ... I would repeal and replace it.
Perhaps more to the point for TBTF (Too Big To Fail bank), if a SIFI (Systemically Important Financial Institution) does fail I have little doubt that private investors will in fact bear the losses-even if this leads to an outcome that is messier and more costly to society than we would ideally like. Dodd-Frank is very clear in saying that the Federal Reserve and other regulators cannot use their emergency authorities to bail out an individual failing institution
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.
There are parts [in Dodd-Frank] that I don't agree with. But, in total, it is what it is.
Dodd-Frank is 2,000 pages long. It covers thousands of rules, regulations, interpretations and things like that.
We need to repeal Dodd-Frank act. It is eviscerating small businesses and small banks.
What do the Republicans say? Donald Trump? They say they're just going to roll back the Dodd-Frank regulations. They want to undermine the Consumer Financial Protection Bureau.
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.
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.
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.
Hillary Clinton has promised to build on President [Barack] Obama's policies. That means build on Obamacare, build on Dodd-Frank, build on the regulations coming out of the EPA. If that's the case, that will not be good for the economy.
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 and independent actions of banks go a long way in terms of progress on capital, liquidity, transparency, "living wills" (plans for winding down a bank in the event of a collapse) and resolutions.
Say good-bye to Dodd-Frank and all of the financial reforms and efforts to try to rein in Wall Street. Just say good-bye to it. That means we can go where Wall Street gets to call the shots again. We saw how that worked out in 2008.
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.
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.
Fannie Mae and Freddie Mac - two bloated and corrupt government-sponsored programs - contributed heavily to the crisis.In order to prevent another crisis, we need to do what we should have done years ago - reform Fannie Mae and Freddie Mac. We also need to repeal Dodd-Frank, the Democrats' failed solution. Under Dodd-Frank, 10 banks too big to fail have become five banks too big to fail. Thousands of community banks have gone out of business.
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