Dodd-Frank Act

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Last quote about Dodd-Frank Act

Quyen Truong - Consumer Financial Protection Bureau
Its Dodd-Frank mandate gives the CFPB authority to investigate Equifax even without cyber security rules.feedback
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NEW Sep 21 2017
“Jim Clinger is incredibly smart and a man of the highest integrity . . . President Trump made a great decision in nominating Jim for this important position.” said Jeb Hensarling speaking about Dodd-Frank Act. It’s one of the 192 quotes about Dodd-Frank Act you can find on this page. 110 people have said something about this topic. Among them: Barney Frank and Maxine Waters. Browse the quotes by date and by name to find those that are relevant to you.
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All quotes about Dodd-Frank Act

Lisa Donner

The Treasury proposal advances ideas that have been pushed by industry lobbyists since Dodd-Frank was passed. We need more effective regulation and enforcement, not rollbacks driven by Wall Street and predatory lenders.feedback

Ben Bernanke - Federal Reserve System

It was recognized that, during periods of high financial stress, even augmented bankruptcy procedures might not be enough to maintain a stable financial system.feedback

Ben Bernanke - Federal Reserve System

Ordinary bankruptcy procedures were entirely inadequate for the situation. The bankruptcy judge in the Lehman case… had neither the tools nor the mandate to try to mitigate the effects of the failure on the financial system or the economy.feedback

Cliff Stanford - Alston & Bird

It was seen as an appropriate mechanism after what happened with Lehman.feedback

Marcus Stanley

It really undermines supervision and it really destroys a lot of other protections against 'too big to fail'. It goes through and comprehensively disempowers regulators and weakens systemic risk regulation in a huge range of areas.feedback

Aaron Klein - The Brookings Institution

The bankruptcy code is not enough because it assumes somebody can provide debtor-in-possession financing… which works unless it's the providers of that funding that are bankrupt.feedback

Ben Sasse

[Dodd-Frank] grants the CFPB vague and sweeping authority to regulate large swaths of the economy… and the authority to impose substantial penalties on individuals and businesses.feedback

Cliff Stanford - Alston & Bird

Real-world experiences and experiments with bailouts versus bankruptcy are still being studied.feedback

Mike Capuano

The bottom line is we put an end to the Wild West of Wall Street, and we're on a nice, steady playing field. We should be able to adjust it, but we should not throw it out.feedback

Donald J. Trump

Congratulations to [House Financial Services Committee Chairman] Jeb Hensarling [R-Texas] & Republicans on successful House vote to repeal major parts of the 2010 Dodd-Frank financial law. GROWTH!feedback

Jim Himes

I could even stretch and say there are some good ideas in CHOICE. They've always been bound with pretty toxic stuff for Democrats.feedback

Marcus Stanley

I think people are too dismissive of this bill being D.O.A. [dead on arrival] in the Senate. We are concerned about pieces of the Choice Act being taken up in the Senate.feedback

Maxine Waters

This bill would pave the way back to economic damage of the same scale (as the financial crisis), or worse.feedback

Marcus Stanley

This legislation would be better dubbed Wall Street's Choice Act as it would have a devastating effect on the ability of regulators to protect consumers and investors from Wall Street exploitation and the economy from financial risks created by too-big-to-fail megabanks.feedback

Jeb Hensarling

The big banks are bigger, the small banks are fewer. We're losing a community bank or credit union a day. We see free checking cut in half at banks. Bank fees are up. The ranks of the unbanked have increased. For many credit-worthy borrowers, they are paying $500 more for an auto loan. Have you tried getting a mortgage recently? They're harder to come by and they cost hundreds of dollars more to close.feedback

Kim Schoenholtz

Dodd-Frank is just overly complex and burdensome. For the purpose of making the financial system safer, hyou can do a lot more of that with less complex and less burdensome regulation. But the CHOICE act, while reducing the burden, actually makes the system less safe, and that's not an attractive choice.feedback

Sean Tuffy - Brown Brothers Harriman

This is a symbolic victory for the House Republicans. The Senate's been pretty clear that they're going to pursue financial regulatory reform, but on their own terms.feedback

Donald J. Trump

We're going to be doing things that are going to be very good for the banking industry so that the banks can lend money to people that need it.feedback

Maxine Waters

This bill would create vast harm, and lead us right back to the bad old days.feedback

Jeb Hensarling

All of the promises of Dodd Frank were broken. They promised us it would lift the economy . . . but instead we are still stymied in the weakest, slowest recovery in the post war era. Have you tried to get a mortgage recently? They are hard to come by and cost hundreds of dollars more to close.feedback

Maxine Waters

The 'Wrong Choice' Act is a vehicle for Donald Trump's agenda to get rid of financial regulation and help out Wall Street. It's a deeply misguided measure that would bring harm to consumers, investors and our whole economy. The bill is rotten to the core.feedback

Paul Ryan

Our community banks are in trouble. They are being crushed by the costly rules imposed on them by the Dodd-Frank Act. This law may have had good intentions but its consequences have been dire for Main Street. Let me put it this way: Dodd-Frank is more than a thousand pages long and has more rules and regulations than any other Obama-era law.feedback

Steny Hoyer

All we're doing is spending our time taking away protections for the American people and their futures. Have we learned nothing?feedback

Keith Rothfus

Let's lower the cost of financial services for everyday consumers. Let's bring an end to the anti-growth policies of the last eight years and move into a much brighter, more prosperous future for everyone.feedback

Maxine Waters

This is one of the worst bills I have seen in my time in Congress. This bill is a vehicle for Donald Trump's agenda to deregulate and help out Wall Street.feedback

David Cicilline

The sole purpose of the CFPB's existence is to ensure that bank loans, mortgages and credit cards are fair, affordable, understandable and transparent, and that's exactly what it's doing.feedback

Jeb Hensarling

We're losing a small bank or credit union a day and they're not dying of natural causes. They're dying of Dodd-Frank's regulatory burden. They are being crushed by it.feedback

Cathy McMorris Rodgers

At the end of the day, Dodd-Frank didn't help Main Street. It actually made it harder for many on Main Street.feedback

Paul Ryan

This legislation comes to the rescue of Main Street America. ... The Dodd-Frank Act has had a lot of bad consequences for our economy, but most of all, in the small communities across our country.feedback

Josh Holmes

The one thing that I think is underappreciated is the extent to which the entire Obama agenda in the last term was executed through executive order. Much of what President Trump was elected to do was roll that back. To the extent that a lot of this is focused on that, that's the way you handle it. Most administrations, there are legacies left by signature legislative accomplishments – and [Obama] had health care and Dodd-Frank, but he basically spent six and a half years doing nothing from a legislative perspective.feedback

Paul Ryan

This is a jobs bill for Main Street. It will rein in the overreach of Dodd-Frank that has allowed the big banks to get bigger while small businesses have been unable to get the loans they need to succeed. With the Financial CHOICE Act, the era of taxpayer-funded bailouts and too big to fail is over.feedback

Keith Noreika

I am proud to have had an effective law practice where I represented clients of all types – banks, institutions, individuals, and a large labor union. I do think that ten years after the crisis and seven years after the passing of Dodd-Frank, now is a good time to take stock of the rules implemented and actions taken to ensure the nation has the right sense of balance and coherence in regulating financial institutions.feedback

Jamie Dimon - JPMorgan Chase & Co.

We are not looking to throw out the entirety of Dodd-Frank or other rules, it is however appropriate to open up the rulebook in the light of day and rework the rules and regulations that don't work well or are unnecessary. We believe that changes can and should be made to preserve the safety and soundness of the financial system. We need to get kids getting out of high school, who go on with a job, or go on to college and that leads to a job. Business has to be involved locally with civic society, in this case schools, to get the kids trained to have a job. There are plenty of jobs out there.feedback

Neel Kashkari - Federal Reserve

Progress has been made. I wouldn't want to roll that back off the biggest banks. I do want to roll back some of that ... off of the little banks that are not systemically risky for the country that are being caught up in the same regulatory net.feedback

Marcus Stanley

It's a little hard to get your mind around everything this bill does, because there's almost no area of financial regulation it doesn't touch. There's a bunch of very radical stuff in this bill, and it goes way beyond repealing Dodd-Frank.feedback

Marc Joffe - Securities and Exchange Commission

Why do we need to have credit ratings agencies receiving some federal license that indicates the S.E.C. approves of what they're doing? Take that away, and anyone who is providing credit assessment can compete on a level playing field with the ratings agencies.feedback

Ann Rutledge

The will to make our capital markets more efficient isn't there. The only people who will suffer as a result are ordinary Americans dealing with a dysfunctional economy, dysfunctional because capital markets are rigged to pay themselves for paying themselves.feedback

Jeb Hensarling

I can't do a good James Brown, but I feel good. This economy is poised to take off, but it's not going to take off as long as Dodd-Frank in its current form remains on the book. It's important that we get tax reform done. It's important we get health care reform done, but it's also important we pass the Financial Choice Act passed.feedback

Pamela Banks - Consumers Union of US

This bill strips the CFPB of most of its power and would leave consumers vulnerable to fraud, hidden fees and costly gotchas by banks and unscrupulous financial firms.feedback

Nydia Velazquez

When we wrote Dodd-Frank, we wanted the bureau to be above the fray so that it could focus solely on its mission of protecting consumers.feedback

Jeb Hensarling

It's about checks and balances. This is part of what we do. No wonder entrepreneurship is at a generational low in America. Regrettably, thanks to Dodd-Frank, too many garages in our nation are full of old cars instead of new startup small businesses.feedback

Maxine Waters

This is one of the worst bills I've seen in my time in Congress. The Wrong Choice Act is a vehicle for Donald Trump's agenda to get rid of financial regulation and help out Wall Street. It's an invitation to another Great Recession or worse.feedback

Ed Perlmutter

We put Dodd-Frank in place to bring some discipline to the financial markets.feedback

Bill Huizenga

What is the real middle finger to the America people is the lack of a recovery that we've had because of Dodd-Frank.feedback

Jeb Hensarling

Regrettably, thanks to Dodd-Frank, too many garages in our nation are full of old cars instead of new startup small business. It's time for the bailouts to end. It's time to help small businesses on Main Street.feedback

Jim Millstein

Efforts to end “too big to fail” by reforming Dodd-Frank are misguided.feedback

Jeb Hensarling

I believe repeal of the Durbin Amendment belongs in the Financial CHOICE Act, but I recognize many Members of Congress are studying this issue and are listening to both sides.feedback

Lawrence White

Banks can change their portfolios relatively rapidly, which means they can get into trouble relatively rapidly. The whole point is that these guys are big and systemic. If they found themselves in an adverse scenario, the consequences are substantial.feedback

Angela Bonell

The staff were excellent. They had mum upstairs and dad downstairs and they asked us if we would like them to bring their beds together. They brought dad upstairs so they could lay and hold hands. The staff on Redwood ward went above and beyond anything we could have hoped for, it was really special.feedback

Dick Bove

In sum, these executive orders signal a willingness by the president to take some action on Dodd-Frank. In real terms, however, even if they result in some rule changes, the impact on the industry will be negligible.feedback

Jeb Hensarling

Supporters of Dodd-Frank promised it would lift the economy, end bailouts and protect consumers. Yet Americans have suffered through the worst recovery in 70 years, Dodd-Frank guarantees future bailouts for Wall Street, and consumers are paying more and have fewer choices.feedback

Sherrod Brown

The American people believe that Congress should do more to rein in Wall Street, but Chairman Hensarling's new bill shows House Republicans are not listening. The special interests and their lobbyists who are hell-bent on rewriting the rules in Wall Street's favor couldn't have drafted a better bill themselves, if indeed they didn't.feedback

Alan Greenspan

Where the bulge is coming from, is the expectation that the whole regulatory structure … is going to be removed. If you get rid of Dodd-Frank it's going to have a very significant positive impact on the economy. In my judgment, that's where the surge in the stock prices has come from. It's very difficult to find anything other than that, which I find really positive. I think the euro is going to eventually dissolve or restructure itself into a north and south euro.feedback

Maxine Waters

The new version, which is even worse than Chairman Hensarling's first draft, cannot be allowed to become law. There is too much at stake for consumers and for our economy at large.feedback

Jeb Hensarling

Dodd-Frank failed to keep its promises to the American people, but we will work with President Trump to follow through on his promise to dismantle Dodd-Frank. That's not what Wall Street wants, but it is what hard-working Americans need to have a healthier economy with more opportunities so they can achieve financial independence.feedback

Rohit Chopra

We're doing a major elimination of the horrendous Dodd-Frank regulations, keeping some obviously, but getting rid of many.feedback

Sarah Rozier

Chairman Hensarling looks forward to working with the president and his administration to eliminate Dodd-Frank and replace it with the Financial Choice Act. Our plan, which will be released in the next few weeks, is a bold and visionary plan that protects consumers by holding Wall Street and Washington accountable, ends bailouts, and unleashes America's economic potential.feedback

Erika Kelton

In the U.S., financial whistleblowers are coming forward in greater numbers because of the confidentiality, employment protection and, in particular, financial rewards that the Dodd-Frank Act provides them.feedback

Rob Nichols

This year poses the biggest opportunity that we have seen in a long time to see some action on much-needed regulatory relief.feedback

Richard J. Gnodde - Goldman Sachs Group

Much of that regulation is very, very good regulation. But given the amount and the volume that is in place, I think it does make sense.feedback

Jim McCaughan

It would be undesirable just to repeal Dodd-Frank and leave nothing in terms of regulation to ensure market conduct. Free markets need a bit of rails to put the train on. They need some sort of rules of conduct which ensure transparent markets. Banks have got used to operating with it so that makes some sense. Any change in regulation causes businesses disruption and effort, even if that's lessening regulation. So the deregulation story is not really the key part in the near term of the Trump trade.feedback

Rebeca Romero Rainey - Independent Community Bankers

One-size-fits-all regulations are imposing unnecessary burdens on community banks that stifle lending and growth in local communities.feedback

Jeb Hensarling

It is encouraging to have a president who is listening to the concerns of community bankers who have been buried under an avalanche of burdensome regulations as a result of Dodd-Frank. We are losing, on average, a community financial institution a day because of the sheer size, weight and complexity of these regulations that prevent community banks from serving their customers.feedback

Jes Staley

I think it is way too early to pass judgement (but) we like the momentum that we have.feedback

Jes Staley

There were transgressions… I think everyone has acknowledged that but as an American I think what was important is, you know, let us be treated fairly with how the U.S. banks were treated and if we are treated on that level we hope to settle with the Department of Justice.feedback

Jes Staley

My view, or our view, is that it would be a good thing for Dodd-Frank to stay in place and not to repeal it. We hope the G-20 continues to believe (a level-playing field of financial regulation) such that whether it is the U.K. and the European Union negotiating or the U.K. and the U.S. we keep the free flow of capital open across national borders which benefits everybody. What we're looking for is a treatment that is commensurate with how the U.S. banks were treated by the Department of Justice.feedback

David Rubenstein

The financial services industry will probably scale up, not only because of some modification of Dodd-Frank (regulation).feedback

Barney Frank

It is not the case that the law has caused a problem with lending in general. If you ask them, much of what they're complaining about in terms of regulation that has been a problem for them has nothing to do with the financial reform law that I worked on. The anti-money laundering that's aiming at drug smuggling and terrorists. Know your customer, all those things. You have to report if people are taking out more than $10,000 at a time. Those have nothing to do with our bill.feedback

Barney Frank

Interestingly, the right in America, politically, tended to push those harder. So they are glad to have some of the complaints about the money laundering and anti-corruption things kind of be blamed on us. Interestingly, Mr. Hensarling, who had the power to put some of this through, wouldn't do that because he does not want to do things that would be helpful to the smaller banks. He wants to, frankly, capitalize in their dissatisfaction to weaken more substantial parts of the law.feedback

Christopher Whalen

The Republicans are feeling their oats in terms of pushing their agenda, which goes very much contrary to what the board's been doing for the last few years. She'll defend the Fed's position in what they have done to date. But ultimately, it's not her job to tell them what to do. The institutional memory of the Fed during that battle of Dodd-Frank is when they came very close to having all their regulatory powers stripped away. They're going to have to be very aware of the political winds, because they've clearly changed.feedback

William Lee

The new supervisory emphasis will likely reshape the way in which the Fed implements Dodd-Frank requirements to relieve smaller banks of some of the associated compliance burdens and costs. The riskiness of bank activities may play a growing role in setting capital levels, rather than stress test results.feedback

Stanley Fischer - Federal Reserve System

There is quite significant uncertainty about what's actually going to happen, I don't think anyone quite knows. It's a process which involves both the administration and the Congress in deciding fiscal policy. At the moment we're going strictly according to what we see as our responsibility according to the law, which is maintaining full employment and getting inflation to 2 per cent. I don't think Dodd-Frank as a whole is going to be repealed, but there may be some adjustments to it. Significantly reducing capital requirements would reduce the safety of the system.feedback

Stanley Fischer - Federal Reserve System

I don't think the Dodd-Frank as a whole is going to be repealed, there may be some adjustments in it. There are many aspects that are extremely important. Significantly reducing capital requirements would reduce the safety of the system. I would certainly hope it's not going to happen.feedback

Richard L. Trumka - AFL-CIO

He promised that he wouldn't let Wall Street get away with murder, and he's changing the rules and doing away with Dodd-Frank and doing away with the fiduciary rule. What [American workers] had in mind when they voted for change and a rewrite of the American rules was that workers' wages, income and retirement assets will be increased and it wouldn't come at the expense of us, and Wall Street wouldn't get a free, huge gift, which is what these changes are. It wasn't what we expected, and it wasn't what we wanted and, the last thing is, it's terrible for the economy.feedback

Norbert Michel

Dodd-Frank doesn't say 'thou shall do that,' it says 'the SEC shall write a rule that does that'. I wouldn't ascribe it to motive, efficiency, funding or anything in particular, I think they got dumped with a nearly impossible task and everyone did the best they could.feedback

Annette Nazareth

The history in the last couple years of people challenging regulations had an impact on the timing of rulemaking, because the agencies were trying to make them litigation-proof and wanted to ensure they could sustain a challenge. So they took a lot longer to produce them than they had in the past.feedback

Annette Nazareth

I think it's quite clear from the executive order that what's being done is much more nuanced – it's not going to be 'Let's get rid of all of Dodd-Frank. I think they're going to look holistically and determine what works and what doesn't work.feedback

Barney Frank

This wasn't a willful failure on their part. They were slowed down by knowing they were going to be sued and the courts that were going to hear it were unfavorable.feedback

Annette Nazareth

This many rules take years to write, and some are very complex, and these agencies had other matters on their plates. I don't think for the most part people thought that the rules could possibly be completed by those deadlines.feedback

Jes Staley

I think Dodd-Frank is going to stay in its broad architecture. The interpretation of Dodd-Frank by regulators – that may be where we see a different approach by the Trump administration to the previous administration. To a certain extent, a law like Dodd-Frank is established so regulators have a volume control. What you'll see is some change in that volume control, and also watch how markets perform and how regulators manage that performance.feedback

Jeb Hensarling

Dodd-Frank broke all its promises. I certainly hope to do my part on Capitol Hill to return us to a healthy economy and unclog the arteries of lending.feedback

Nicolas Roth - Reyl & Cie

Conflicts of interest would resurface, such as when banks traded on their own account while also advising their customers.feedback

Dhaval Joshi

In theory it puts U.S. bank profitability at an advantage over European bank profitability - by easing regulations and capital requirements, allowing higher operational leverage for US banks. Dodd-Frank was aimed at protecting banks from themselves. The tighter regulations in Europe weigh on long-term profitability but they also prevent future systemic crises and ultimately create a more stable banking system.feedback

Alastair Winter

It seems the overall aim of the roll-back is to allow U.S. banks to do more business with fewer capital restrictions. Thanks to the Troubled Asset Relief Program (TARP) U.S. banks were able to recover relatively quickly from the crisis and have been in a better competitive position for several years than the Europeans who were left to themselves unless as in the UK, Spain and Portugal full-scale bail-outs were required. A roll-back is going to make the recapitalized U.S. banks even more competitive.feedback

Renata Pumarol

Trump is making it easier for these bankers, for Goldman Sachs, for Chase, to keep robbing ... America. We think this is outrageous that he's ... giving (JPMorgan Chase CEO) Jamie Dimon the power to roll back Dodd-Frank, which was basically set in place to protect us.feedback

Jeb Hensarling

Too many small businesses, too many entrepreneurs can't find lending because of the sheer weight, volume and control of Dodd-Frank. Dodd-Frank clogs the arteries of capitalism in our system. It hurts working people. It hurts consumers. It needs to go.feedback

Jim Cramer

Just about every regulator in Washington is about to get more business friendly, and these will ultimately be estimate-raising events for so many companies. You should indeed sell what you don't like. But only so you can buy what you do like if we actually get the kind of political sell-off that so many expect but maybe, just maybe, won't happen.feedback

Barney Frank

It's one that says 'Please don't lend money to poor people, you can't lend money to poor people who can't pay you back for their mortgages'. Literally that restriction on irresponsible subprime mortgages is the only lending restriction. Goldman Sachs – which is helping to populate this administration – because they are making less money from trading than they had been before has created a whole new entity to lending.feedback

Sean Spicer

The Dodd-Frank Act is a disastrous policy that's hindering our markets, reducing the availability of credit, and crippling our economy's ability to grow and create jobs.feedback

Barney Frank

Any comprehensive legislation needs some changes. If the Republicans hadn't taken over the House in 2011, with an avowed purpose to get rid of the whole thing, we would have made the changes. This was not a decision by a group of politicians to make it harder to run the banks...this was a response to a pattern of irreponsibility and error.feedback

Margaret Yang - CMC Markets

Wall Street is probably cheering Donald Trump's move to revise the Dodd-Frank Act, which are regulatory rules to inhibit banks and brokers after the 2008 subprime crisis. ... If the Dodd-Frank Act is revised or removed, it will mark a great step toward financial deregulation. A deregulated Wall Street will create a new wave of bullish sentiment in the short term.feedback

Christopher Whalen - Kroll Bond Rating Agency

Yet since 2008, regulators and policymakers have focused on increased capital for banks and restrictions on risk taking as a general panacea for preventing a future crisis. In general, KBRA believes that modifications to the Dodd-Frank law that lessen the regulatory burden but address the underlying causes of the crisis will be positive for investors.feedback

John Berlau - Competitive Enterprise Institute

The promises have been to simplify Dodd-Frank. It will probably be difficult to repeal it.feedback

Donald J. Trump

There's nobody to tell me better about Dodd-Frank than Jamie (CEO of JP Morgan), so you're going to tell me about it, but we expect to be cutting a lot out of Dodd-Frank.feedback

James Gorman

There are elements of Dodd-Frank that clearly need to be curtailed. Parts of the Volcker Rule are unambiguously affecting market liquidity. And the Federal Reserve's own work has demonstrated that.feedback

James Gorman

I'll be very clear about this, I'm not a fan of getting rid of Dodd-Frank, from the sidelines of the World Economic Forum in Davos, Switzerland.feedback

Lloyd Blankfein

I think it's time to look at this stuff. Not all the regulation is serving the interest of safety and soundness, and certainly on a cost-benefit analysis it's not. That's not saying we want repeal of all regulation or repeal of Dodd Frank or anything like this.feedback

Kourtney Gibson

You get some interest rate hikes, you get Trump potentially rolling back some things with Dodd-Frank, I think the banks are incredibly well positioned.feedback

Neel Kashkari - Federal Reserve

I'm optimistic that if Congress now says we are going to take a fresh look at bank regulation, we are going to take a fresh look at Dodd Frank, there may be a real opportunity to weigh in and say, let's be much more aggressive on capital requirements.feedback

Mark Chorazak

It's dangerous to consider any effort to modify or repeal Volcker in isolation of a larger package of banking reforms. Even if there is strong support to amend, it may take a lot of time to play out.feedback

Dennis Kelleher

Wall Street is salivating at their reversal of fortune. If you get to keep profits and stick taxpayers with the losses, why not?feedback

Brian Kropp - The Corporate Executive Board Company

Their expectation is that the Dodd-Frank legislation will be changed somehow and a lot of them at this point believe that part of the legislation will be taken out.feedback

Jim Cramer

He contradicted a previous guest, said the guest didn't know what he was talking about. Look, you can say what you want. There's fake news, real news, there's Reddit, there's sites. Say whatever you want. I don't know. I'm stuck with the facts.feedback

Steve Eisman

Here's a dirty little secret about small-business lending: Banks are not venture capitalists.feedback

Steve Eisman

That's not a Dodd-Frank issue. That's a post-crisis, banks-have-been-fined issue.feedback

Janet L. Yellen - Federal Reserve System

I think it's very important that we have reduced the odds that a systemically important firm could fail by requiring higher capital, higher liquidity, by performing stress tests that provide is another way of insuring that the firms we count on to supply credit to households and businesses would be able to go on doing that even in the face of a severely adverse shock.feedback

Patrick Toomey

Like we don't have any economists in America doing research on financial institutions. It's ridiculous.feedback

Patrick Toomey

It's unsecured creditors who generally impose that discipline, and if they know that they're going to go through a bankruptcy and they're going to get wiped out if there's a failure, then guess what? They'll impose the discipline.feedback

Eric Wasserstrom - Guggenheim Securities

Generally speaking, I think we are starting to run out of value in [the financial] space, largely because so much has been discounted particularly around the regulatory environment, which I think is actually going to be very slow to change.feedback

John Allison - Home BancShares

We agreed that while it would be good to repeal Dodd-Frank, it would be difficult politically.feedback

Jamie Dimon - JPMorgan Chase & Co.

We're not asking for wholesale throwing out of Dodd-Frank. It's always been rational to look at major legislation and, you know, open it up, take a look at it, re-calibrate it, change it a little bit.feedback

Austan Goolsbee

One of the most interesting things that I'm seeing of the Trump picks is such a heavy business and financial focus. I can't help but feel like this is going to throw a lot of policy weight and details back to Congress, because these are not people who have a lot of experience drafting legislation. So then, that makes me ask, what do Republicans in the House think? And there, I think they'd probably be up for repealing Dodd-Frank.feedback

Jeb Hensarling

The most urgent need we have is to throw a life preserver to community banks that capitalize our small businesses.feedback

Steven Mnuchin

I think one of the good things about both Wilbur and I, we have actually been bankers. We've been in the business of regional banking, and we understand what it means to make loans.feedback

Mike Mayo

You don't need to roll back Dodd-Frank to make the bank stocks work.feedback

Barney Frank

Tell me what specific things in that law now inhibit lending other than saying you can't lend money to people who can't pay their mortgages.feedback

Jeffrey Solomon - Cowen and Company

The rebirth of regional banking is actually quite strong, and to induce banks to be making loans to small and medium-sized businesses is actually a growth area. I think anytime you can get more liquidity into the marketplace for growing businesses, [it] helps economic growth.feedback

Jeffrey Solomon - Cowen and Company

We are about to enter a very interesting phase in the markets. We're definitely going to see Fed raising rates, we have a lot of debt overhang, we've got to figure a way out of the zero interest rate policy that we're in. To me, these are two individuals who have a lot of savviness in how to manage that, and I'm happy to see them in the spots that they're in.feedback

Steven Mnuchin

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.feedback

John Gulliver

Even for rules that have been finalized, there is room to change things.feedback

John Allison - Home BancShares

We talked about how to get rapid economic growth. President-elect Trump has a real deep commitment and belief that accelerating economic growth is the cure for what he considers the problem with the middle class in America and that's really what his focus is.feedback

John Allison - Home BancShares

I'm in a very nice place in my career and I hadn't planned to take on such a big job.feedback

John Allison - Home BancShares

What we want to do is to incentivize them to objectively look at the risk-returns and they'll be better off taking a reasonable amount of risk over the long term.feedback

John Allison - Home BancShares

First, costs would go down because all regulatory costs pass, in one way or the other, to consumers. Credit would be available, particularly in the lower end of the marketplace, which has been hurt by the lack of availability of credit. We can reduce deposit insurance significantly and 95 percent of the consumers in this country have less than $50,000 in the bank.feedback

John Allison - Home BancShares

In terms of eliminating the Federal Reserve, that's something I'd like to do in theory, but I don't think it's doable in practice. What I really want to do with the Federal Reserve is control it. You really have an incredibly powerful organization that there's no self-discipline for and it's had a big impact, I believe, on our economic volatility over the years.feedback

Daniel Clifton

They're going to try and pass two pieces of legislation before Trump is even president. First, the Keystone Pipeline gets approved. And two, to repeal Obamacare without replacing it so that Donald Trump can sign those bills immediately becoming president.feedback

Daniel Clifton

As soon as Trump gets here, Cabinet gets settled, you're going to see all the discussion moving to tax reform, infrastructure, fiscal policy and defense spending.feedback

Daniel Clifton

Financials is a good place to be, but don't think that Dodd-Frank will be repealed.feedback

Mike Alix

One of the dangers of dismantling regulation is that it will be costly and disruptive. By and large they've gotten themselves into shape and they're not looking to get out of shape.feedback

Mark Nuccio

Even if Volcker doesn't go away, there are still questions about how tough the enforcement would be. Banks are deciding they may take the foot off the gas pedal now and just see what happens.feedback

Barney Frank

That was a mistake. We should have made it much higher, $125 billion or more, and we should have indexed it.feedback

Jeffrey Miller

There seems to be a general consensus that the Dodd-Frank bill has been overly burdensome on small community banks, with compliance costs through the roof and loan growth to small businesses and individuals (via mortgages) anemic. A revision or removal of some of the worst of the regulations, particularly for mortgages, will be very beneficial for consumers.feedback

Dick Bove

There is a need for what big banks and Wall Street do for the economy. The new supposed leaders of the Trump administration appear to understand this. Therefore, it is highly likely that banking regulations will be meaningfully eased in the next year. I still think this cannot be done by revoking Dodd Frank. It must occur at the Fed.feedback

Mark Hamrick

If you come at it from a common sense approach, there is a proverbial low-hanging fruit at the top of that list. Everybody from (Fed Chair) Janet Yellen on down has said there is a concern that those smaller financial companies have had a difficult time competing in the wake of the new law's enactment.feedback

Mark Hamrick

It doesn't look good for Donald Trump the populist to be essentially disemboweling what was the principal regulatory response to the financial crisis. So the question really is, if you're looking to let's say, amend Dodd-Frank, what are your goals and what do you do? You have to begin by acknowledging that there probably are very few lawmakers who thoroughly understand the law in the first place.feedback

William Dudley - Federal Reserve Bank of New York

I think it would be a big mistake to go back to the pre-financial crisis set of regulations that we had in place. That said, is Dodd-Frank perfect? I would be very hesitant to say that. So if there are aspects of Dodd-Frank that could be improved, it would be completely reasonable for Congress to take that on, and it's obviously up to them.feedback

Kate Warne - Edward Jones & Co.

I wouldn't expect we're going to see the entire repeal of Dodd-Frank, but we could certainly see some changes that are positive for the financial services sector.feedback

Jeb Hensarling

I would strongly urge you to respect the results of last week's election and resist the temptation to finalize any regulations, including Dodd-Frank ... regulations.feedback

Barney Frank

If he wants to have a national debate about whether we should go back to mortgages to people who can't repay them and then securities based on those bad mortgages, I welcome it.feedback

Barney Frank

Maybe Mr. Trump thinks that we should remove that. I don't think that would either be wise or very popular.feedback

Jeb Hensarling

I remain troubled that the Fed may have added items to the Stress Test that were conceived, negotiated and approved in closed-door international meetings.feedback

Dennis Davitt - Harvest Volatility Management

Even if they were to repeal Dodd-Frank tomorrow, for the banks to get back in motion … they've spent the last eight years growing out their compliance departments. They're not growing out their proprietary trading departments.feedback

Jeb Hensarling

It's nice to be mentioned, and I certainly want to help our new president make America stronger and more prosperous, but serving in his Cabinet is not something I've indicated an interest in and it's not something I am pursuing. The president-elect has said that repealing the Dodd-Frank Act is among his top priorities, and I look forward to working as his ally in the House to do just that.feedback

Alan Greenspan

I don't want to comment on current monetary policy, but I'd love to see Dodd-Frank disappear. I think it was a disastrous mistake.feedback

Jay Gould

They will do whatever they want to do. Say goodbye to Dodd-Frank. Say goodbye to the fiduciary rule at DOL.feedback

Gabirel Solomon - T. Rowe Price Associates

A blanket repeal of Dodd-Frank would not be good because some of the regulations are good for managing risks that lead to the 2008–2009 financial crisis.feedback

Jeb Hensarling

We've got to get our capital markets working, and unfortunately, Dodd-Frank has made capital less available and less expensive. It puts government bureaucrats between consumers and their credit cards and their mortgages.feedback

Tim Pawlenty - Financial Services

The banks and other financial institutions did things pre-crisis that needed a response. And they got a response in the form of Dodd-Frank. But now we're six or seven years removed from that, and we want to strike the right balance between making sure things are properly regulated, but not going so far that you stifle capital formation and deployment.feedback

Rick Sharga

We're really seeing a lot more discussion about things like reforming or rejecting the Dodd-Frank [financial reform] bill. We've seen a lot of discussion about easing regulatory burden on the industry which was put on it by Dodd-Frank and by the CFPB [Consumer Financial Protection Bureau].feedback

Rick Sharga

The contention seems to be that some of the rules established in Dodd-Frank and the CFPB make it difficult for qualified borrowers to get a loan and make it difficult for lenders to justify making loans because of the regulatory and litigation risk.feedback

Tim Kaine

We've got to keep regulation on abusive practices and on Wall Street, so that Wall Street doesn't tank Main Street again. These are their ideas, but they're our ideas too: We put Dodd-Frank in place for a reason, and we want to strengthen it, not get rid of or weaken it.feedback

Hillary Clinton

There was a lot of complaining about Dodd-Frank, but there was also a need to do something because, for political reasons, if you were an elected member of Congress and people in your constituency were losing jobs and shutting businesses and everybody in the press is saying it's all the fault of Wall Street, you can't sit idly by and do nothing, but what you do is really important.feedback

Elizabeth Warren

The ruling makes a small, technical tweak to Dodd-Frank and does not question the legality of any other past, present, or future actions of the CFPB.feedback

Michael Hanson - TD Securities

I would imagine she'll get some questions on the outlook and policy, and I would imagine she'll echo word for word what she said in her press conference. In terms of regulation and supervision, there's obviously still stuff up in the air in terms of Basel lll and Dodd-Frank, but I would guess her comments will be very general.feedback

Carolyn Maloney

I am particularly disturbed that this bill would take away the Consumer Financial Protection Bureau's ability to penalize companies for practices that are abusive to consumers.feedback

Carolyn Maloney

The chairman's bill strips, takes away, from the C.F.P.B. its authority to punish abusive conduct, which means Wells Fargo would have gotten off even easier for this scandalous conduct.feedback

Howard Dean

You pay us to do as much as we possibly can whether it works or not. The only way you are going to get budgetary predictability by the payers, both private and public, is to get rid of fee-for-service medicine and do all this . . . at a capitated basis.feedback

Howard Dean

This is predatory behavior by a particular drug company, and there's really not an excuse for it. I don't see the other pharmaceutical companies doing this kind of predatory behavior and these kinds of outrageous price increases.feedback

Chris Concannon - BATs Global Markets

Our acquisition of Javelin underlines our commitment to the FX market and is an acceleration of our FX product rollout plans.feedback

Greg Valliere

There's really this pervasive anti-Wall Street, anti-business view in both parties. I think there's a cloud over Wall Street that's not going to dissipate anytime soon. The problem with Trump is just the level of uncertainty. With Hillary, I think she's more practical. She's not going to try to put Glass-Steagall back together again. She's not going to try to dismantle Dodd Frank.feedback

Dick Bove

The Republican in Congress seem to be going in one direction to solve what they perceive to be a major problem – Dodd-Frank. And the Republicans on the National Committee seem to be going in a different direction which is a direction the Democrats agree with.feedback

Paul Manafort

We are supporting the small banks and Main Street. We talk about legislation that affects, you know, some of the mistakes made in repealing Glass-Steagall and some of the mistakes made in imposing Dodd-Frank. The platform reflects those things.feedback

Elizabeth Warren

The way I see this is that there is a very big and important home here. if Trump wins the White House and Republicans continue to control Congress, President Obama's health insurance and financial regulations such as the Dodd-Frank act will be repealed.feedback

Jeb Hensarling

Here's something we both agree with, and that is Dodd-Frank is impeding economic growth. I think he well received the message. I think he was interested in the policy.feedback

Elizabeth Warren

While most Republicans in Congress are debating not whether to run away from Trump - but how far and how fast - Congressman Hensarling is sprinting toward Trump Tower.feedback

Jeb Hensarling

Those on the left who gave us Dodd-Frank believe in the principle that human nature is self-destructive and that people – except themselves, of course – are fundamentally ignorant.feedback

Jeb Hensarling

Not unlike many Republicans, I've certainly had my disagreements with Donald Trump. But at least one thing is I know – he's working on a very solid tax plan and he also realizes that Dodd-Frank has hurt working Americans and that it's broken its promises.feedback

Barack Obama

The notion that you would vote for anybody that would now allow them to go back to doing the same stuff that almost broke our economy's back makes no sense.feedback

Elizabeth Warren

Donald Trump is worried about helping poor little Wall Street? Let me find the world's smallest violin to play a sad, sad song. Can Donald Trump even name three things that Dodd-Frank does? Seriously, someone should ask him.feedback

Marco Rubio

Let's dispel once and for all with this fiction that Barack Obama doesn't know what he's doing. He knows exactly what he's doing. Barack Obama is undertaking a systematic effort to change this country, to make America more like the rest of the world. That's why he passed Obamacare and the stimulus and Dodd-Frank and the deal with Iran. It is a systematic effort to change America.feedback

Ted Cruz

One of the reasons people are so unhappy with Washington is they get a sense that there are special rules that apply. Wall Street gets special exemptions, the big banks get special exemptions, Dodd-Frank sets up rules that hammer small banks, hammer community banks, hammer the little guys. But what happens to the big guys? They keep getting bigger.feedback

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