Tag Archives: Dodd-Frank Act

Between attempts made by lawmakers to reform the Bureau to the PHH trial, the CFPB is probably glad to see April in the rear view mirror.

Republicans have been trying to chip away at Dodd-Frank almost since the law was enacted nearly six years ago. But lately they have made a more intense push, and they won a victory in the House of Representatives recently.

New York Fed President and CEO Bill Dudley discussed some of the regulatory responses to the crisis that changed the way the central bank supervises institutions, including changes brought on by Dodd-Frank.

Republicans have always been critical of the controversial Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, but lately they have turned up the heat with their criticism as the Obama Administration winds down.

Rep. Jeb Hensarling, Chairman of the House Financial Services Committee, delivered a public address on Tuesday on the committee’s plan to offer what he terms a “bold and better” alternative to the Dodd-Frank Act, according to an announcement from the committee.

Hensarling went on to say that Dodd-Frank exemplifies the "insidious belief" among those in Washington that the American people cannot be trusted to make financial decisions, so Washington must do it for them.

Witnesses at a recent House Financial Services Committee hearing testified the Dodd-Frank Act has "reduced financial stability" and made Americans worse off financially in the controversial law's first five years of existence. The hearing, titled "Dodd-Frank Five Years Later: Are We More Stable?" was the first in a series of three full Committee hearings to examine the impact Dodd-Frank has had on American consumers and the country's financial system and economy since President Obama signed it in to law in July 2010.

The AMDC's goal is to drive results that support the application and promotion of the mortgage industry's best diversity practices, and advancing solutions that support initiatives outlined by Section 342 of the Dodd-Frank Act–which focuses on minority and inclusion rules that call for greater supply chain diversity and greater diversity in hiring and promoting in the workforce.

The first measure, which passed 263-162, would alter the meaning of “high cost" mortgages for manufactured housing by exempting mortgages from the classification if the transaction is less than $75,000, the annual percentage rate is 10 percent or lower, and if the mortgage points and fees don’t exceed $3,000.