Tag Archives: Dodd-Frank

Which rules and regulations have impacted the housing industry since the Trump administration came to power in January 2017? Click through to learn the impact of this administration’s legislation and nominations on the industry.

Here’s what the Financial Services Committee said during a hearing to discuss CFPB’s Acting Director Mick Mulvaney’s recommendations to promote greater transparency at the Bureau as well as other reforms at CFPB.

On Wednesday, the mortgage industry’s main oversight group asked for comments on amending rules created by Dodd-Frank Act.

Republicans scored a major win with the tax reform bill last week, and now another major piece of legislation has been advanced to the full Senate for debate.

A new bipartisan bill was introduced recently that would allow the Federal Reserve to exempt smaller banks from standard bank oversight restrictions.

Though a recent poll shows overwhelming support for both the Dodd-Frank Act and the CFPB, one expert thinks the results may be skewed. How accurate is the poll really?

The Consumer Financial Protection Bureau (CFPB) is planning to assess the effectiveness of the Real Estate Settlement Procedures Act (RESPA) mortgage servicing rule. The rule, introduced in January 2013 and which took effect in January 2014, was designed to assist consumers who were behind on mortgage payments. Currently, the Bureau is seeking comment from consumers, consumer advocates, housing counselors, mortgage loan servicers, industry representatives, and the general public regarding the rule, and will issue a report of their assessment by January 2019.

The House Financial Services Committee held a second hearing on the Financial CHOICE Act on Tuesday. Intended to be a replacement for Dodd-Frank, the CHOICE Act aims to increase regulator accountability, discourage financial fraud and insider trading, and ensure taxpayers aren't on the hook for big bank bailouts. The Act was introduced by Rep. Jeb Hensarling (R-Texas).

Critics have begun to speak out after President Trump signed two executive orders calling for the review into “too big to fail” and a number of financial oversight entities. Some even fear it could signal another financial crisis is on the horizon. Trump’s orders specifically require a review of the Financial Stability Oversight Council and the Orderly Liquidation Authority.

Former Fed Chairman Alan Greenspan came out against the Dodd-Frank Act today on CNBC’s “Squawk on the Street” business show. The post-crisis regulations, he said, have caused a “surge in stock prices,” and getting rid of them would “have a very significant positive impact on the economy.” President Trump called for a review of Dodd-Frank back in February.