Posted by Tina
While the nation’s attention was fixated on Comey the House of Representatives passed a bill that repeals Dodd-Frank, legislation that has met none of it’s high toned promises but severly harmed small banks:
Dodd-Frank’s 22,000 pages of regulations, which cost $36 billion to comply with in the first six years, has choked competition in the banking industry, made banking more expensive, harmed economic growth and, to top it off, failed to make the banking system safer or end “too-big-to-fail.”
Since Dodd-Frank became law, for example, more than 1,700 banks have disappeared — more than one a day, on average. The banking industry got more concentrated.
In addition Dodd-Frank created another unaccountable bloated bureaucracy:
Dodd-Frank created an unaccountable regulatory monster in the form of the Consumer Financial Protection Bureau. Within the span of just a few years, the CFPB exploded in size and regulatory might, using its unchecked authority to attack credit bureaus, auto lenders, education loans, payday lenders and prepaid cards. It also started collecting massive amounts of sensitive financial data on millions of Americans.
The Credit Union National Association figures that CFPB regulations cost credit unions more than $7 billion in compliance costs in one year alone.
Late last year, a U.S. appeals court ruled that the design of the CFPB was unconstitutional because it gave the director “more unilateral authority than any other officer in any of the three branches of the U.S. government, other than the president.”
This story should be grabbing headlines, instead the people are kept pretty much in the dark. The bill passed without Democrat approval, 233-to-186. On to the Senate. Get it Done!
While Dodd frank did not go far enough after the crash of 2008
I say Repeal it! Let the crash begin!
Conservatives think the Banks can rob us Blind, make us Bail them out, then grow many times bigger only to do it again?
I say have at it Hoss I a tired of this back and forth.
let it burn baby Burn!
Will they have the guts to do it is the question.
I mean after 8 years of repeal ACA now the chicken little’s are afraid to do so? All those millions wasted on the fake House votes for Political campaigning? I say repeal it all! Blanket repeal…. and watch the country crumble again.
I call out the chickens Where is the Repeal on the ACA? Do it!
repeal Dodd frank! Do it!
Get rid of all regulations that protect the public and watch this so called Monopoly called the free market destroy us! End this stupid back and forth!
Privatize everything to these foreign companies and let the American people pay taxes to support the wars and nickle and dime them on Tolls, and fees!
Why fix it when half the country just wants the Elite to take over
You have no idea what republicans think.
You have enough trouble knowing what you think.
The ACA repeal is a third done. The last third will only take a signature.
Privatization would be a blessing compared to elitist government control. Government can tax us and government has the power to jail us or make us disappear if it suits them. No corporation has that power.
The private sector, supported by a non-political justice system is the best possible system in a world of flawed individuals.
Restoring the rule of law is another necessary step to place us on a path to restored freedom.
Quit trying to further empower the government…they represent the worst of the elites and use you as a tool.
Which half wants the elite to take over, Dewey? Hint…old Bernie is a socialist from way back…loves absolute elitist control.
Funny cause I live in Trump country and talk to Republicans all day long. But hey I’ll tell these southern Boyz the conservatives in CA say otherwise. Oh yea they hate CA.. that may not go over well.
Funny So far I have been right.
Sure, like those “Southern Boyz” are deeply invested in who you “talk to all day long.” Give me a break.
I’d bet the Californians they “hate” are the flakes and nuts in the Dem Party. they don;t know me, or my Republican compatriots exist.
Right about what? (We don’t live in your head)