Dodd-Frank Act


Last quote about Dodd-Frank Act

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
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NEW Apr 25 2017
In this page you'll find all points of view published about Dodd-Frank Act. You'll find 119 quotes on this page. You can filter them by date and by a person’s name. The 4 people who have been quoted more about Dodd-Frank Act are: Jeb Hensarling, Donald J. Trump, John Allison and Elizabeth Warren. Jeb Hensarling specifically said: “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.”.
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Donald J. Trump

We're going to be coming out with some very strong - far beyond recommendations - we're going to be doing things that are going to be very good for the banking industry so that the banks can loan money to people who need it. We're going to do a very major haircut on Dodd-Frank. We want strong restrictions, we want strong regulation. But not regulation that makes it impossible for the banks to loan to people that are going to create

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

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

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

Jes Staley

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

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

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

David Rubenstein

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

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

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

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

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

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

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

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

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

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

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

Nicolas Roth - Reyl & Cie

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

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

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

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

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

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

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

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

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

Donald J. Trump

Today we are signing core principles for regulating the United States' financial system. Doesn't get much bigger than that, right? We expect to cut a lot out of Dodd-Frank. I have friends who can't start businesses because the banks wouldn't let them borrow because of rules and regulations and

John Berlau - Competitive Enterprise Institute

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

Donald J. Trump

We have some of the bankers here. There is nobody better to tell me about Dodd-Frank than Jamie [Dimon], so you gonna tell me about it. We expect to be cutting a lot out of Dodd-Frank because, frankly, I have so many people, friends of mine, that have nice businesses, they can't borrow money, they just can't get any money because the banks just won't let them

Donald J. Trump

We expect to be cutting a lot out of Dodd-Frank, because frankly, I have so many people, friends of mine, that have nice businesses and they can't borrow money. They just can't get any money, because the banks just won't let them borrow, because of the rules and regulations in Dodd-Frank. So many people who are friends of mine, in big business, they wanted to be on the committee. And I'd call Steve and say, Steve, can we get so-and-so [on the committee]?feedback

Donald J. Trump

Dodd-Frank is a disaster. We're going to be doing a big number on Dodd-Frank. There's nobody better to tell me about Dodd-Frank than Jamie, so you're going to tell me about

Donald J. Trump

Regulation has been horrible for big business, but it's been worse for small business. Dodd-Frank is a disaster. We're going to be doing a big number on Dodd-Frank. I think the person I pick will be big, big. I think people are going to love it. I think evangelicals, Christians will love my pick. And will be represented very

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

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,

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

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

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

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

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

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

Steve Eisman

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

Steve Eisman

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

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

Patrick Toomey

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

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

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

John Allison - Home BancShares

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

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

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

Jeb Hensarling

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

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

Mike Mayo

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

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

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

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

John Gulliver

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

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

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

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

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

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

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

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

Daniel Clifton

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

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

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

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

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

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

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

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

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 ...

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

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

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

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

Jay Gould

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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