In June, House Financial Services Committee Chair, Jeb Hensarling (R-Texas), introduced legislation to roll back Dodd-Frank. This legislation, H.R. 5983, is known as the Financial CHOICE Act (Creating Hope and Opportunity for Investors, Consumers, and Entrepreneurs). Cute. Do they have people in Washington whose sole responsibility is to come up with these little ditties as acronyms for legislation? I wonder.…
In all the hoopla surrounding CFPB’s birthday and their release of the final rule on TRID, we overlooked the 5th anniversary of the Dodd-Frank Act. Let’s face it, had it not been for Dodd-Frank, there would be no CFPB. Just think of it…okay, now back to reality. Depending on which side of isle one sits, Dodd-Frank is either a boom…
With the passage of the Affordable Health Care Act (an oxymoron), the health care industry has come even closer to being run by the federal government. Is Banking headed down that same path? (Dodd-Frank Costs). You’re probably wondering where I’m going with this one. Under the Affordable Care Act, everyone is forced to carry health insurance coverage. The coverage required…
A recent ABA survey found that most mortgage lenders believe the new TRID rules will further restrict mortgage lending. Many say lending was already restricted resulting from last year’s ATR and QM rules. Now, TRID may continue such restrictions and possibly make it worse. The same survey revealed that banks reported the highest number of mortgages made to first-time homebuyers…
