Dodd-Frank, passed through the FDIC, was a piece of legislation that told the banks to allow more people the ability to take loans. These people, however, were no financially stable. Eventually the banks had to call in their loans, to which millions didn't pay. Dodd-Frank was one of the contributing factors to the Financial Crisis of 2008 and also the Crash of 2008. The Federal government has no right to regulate banks and their standards. And the government also has no right to control a banks' assets.
Made through the FDIC, Dodd-Frank had the power to identify banks that were 'troubled.' It could then take over the bank and control its assets. Dodd-Frank helped expand the government's power over issues that shouldn't be a federal problem. Instead of forcing the banks to take in more people while also forcing the banks to have less secure regulations and requirements, the government should have no say in it at all. Especially since Dodd-Frank helped make the banks insecure in the first place, which led to the Crisis in 2008 and then later on the Financial Crash of 2008.
Yes, there should be a repealing of the Dodd-Frank Act, because there are so many protections in it, the banks cannot stay in business. If the consumer has the poor judgment to keep a balance on a credit card, the bank should be able to make a little bit of profit. Consumers do not need to be treated as children.
No, there does not need to be a repealling of the Dodd Frank Act, since it is a very good thing, and it does a lot of good here in this country. We need it here, and there is nothing wrong with it how it is so it does not need changed.
I don't know about you - but if I run out of money and don't pay my bills I face very real and often life changing penalties. Yet, apparently, if I were a company with profits in the millions and ran out of money, the government will hand me some more. The Dodd-Frank Act puts an end to the "too big to fail" idiocy and requires financial institutions to have at least some degree of transparency and oversight. This bill guarantees no more big bail-outs for irresponsible billionaires.
Many people think the bill did not go far enough. It does not come close to solving the banking problems like the Glass Steagall Act did. Other people think the Dodd-Frank bill was just a bunch of regulation, that is hurting the economy. If you do not like something, make it better. Why do we always have to be get rid of things if it is not perfect? There is nothing in this world that is perfect.
The Dodd-Frank Act was a good start to a major problem - but it was at best a start. The skirting of the law that is the maintsay of the financiers of Wall Street and the like is the exact sort of behavior that requires evolving laws to adapt to new circumstances. On the contrary to appeal - it should be refined and expanded.,