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Dodd-Frank barely affects small banks. It was intended to reduce "too big to fail", that is, big banks. Lobbyists have duped you.

by tabtab 9y ago

turbobuckeye 9y ago
Nope. See http://www.politico.com/agenda/story/2016/09/community-banks-dodd-frank-000197 http://www.politico.com/agenda/story/2016/09/community-banks... and many others.
- turbobuckeye 9y ago
  Treed!
bpodgursky 9y ago
I'm sorry, but that is blatantly false. I don't know what sources you could possibly have used to form that opinion, but nobody who is informed agrees with you (ex, http://www.politico.com/agenda/story/2016/09/community-banks-dodd-frank-000197 http://www.politico.com/agenda/story/2016/09/community-banks...)
- tabtab 9y ago
  There are several moving parts to this. The regulative requirements on ALL residential loans has increased to make sure the loan requester (consumer) has sufficient ability to pay back the loan. After the Great Recession, the reasons for this should be obvious. This will increase "paperwork" for all banks doing home loans. The banking industry overall had RECORD PROFITS last year. Thus, Dodd Frank (DF) is not a general bank killer. Now, by some accounts smaller banks are more heavily impacted by DF regulations even though there are less rules for small banks. Why? Some analysts say big banks are better able to leverage "economies of scale" in DF compliance. Others say it takes time for software vendors to small banks to implement DF-related features, and that over time the burden will decrease as the software glitches are worked out so machines can do more of the grunt work. Democrat legislators agree DF should be better tuned for some issues related to small banks, but point out we don't want to throw the baby out with the bathwater: bad loans hurt everybody. Due to political gridlock, some of the suggested small-bank-related changes are stuck in political molasses. You can blame both parties and voters for that.

Dodd-Frank barely affects small banks. It was intended to reduce "too big to fail", that is, big banks. Lobbyists have duped you.

by tabtab 9y ago

Dodd-Frank barely affects small banks. It was intended to reduce "too big to fail", that is, big banks. Lobbyists have duped you.

turbobuckeye 9y ago

Nope. See http://www.politico.com/agenda/story/2016/09/community-banks-dodd-frank-000197 http://www.politico.com/agenda/story/2016/09/community-banks... and many others.

turbobuckeye 9y ago
Treed!

bpodgursky 9y ago

I'm sorry, but that is blatantly false. I don't know what sources you could possibly have used to form that opinion, but nobody who is informed agrees with you (ex, http://www.politico.com/agenda/story/2016/09/community-banks-dodd-frank-000197 http://www.politico.com/agenda/story/2016/09/community-banks...)

tabtab 9y ago
There are several moving parts to this. The regulative requirements on ALL residential loans has increased to make sure the loan requester (consumer) has sufficient ability to pay back the loan. After the Great Recession, the reasons for this should be obvious. This will increase "paperwork" for all banks doing home loans. The banking industry overall had RECORD PROFITS last year. Thus, Dodd Frank (DF) is not a general bank killer. Now, by some accounts smaller banks are more heavily impacted by DF regulations even though there are less rules for small banks. Why? Some analysts say big banks are better able to leverage "economies of scale" in DF compliance. Others say it takes time for software vendors to small banks to implement DF-related features, and that over time the burden will decrease as the software glitches are worked out so machines can do more of the grunt work. Democrat legislators agree DF should be better tuned for some issues related to small banks, but point out we don't want to throw the baby out with the bathwater: bad loans hurt everybody. Due to political gridlock, some of the suggested small-bank-related changes are stuck in political molasses. You can blame both parties and voters for that.