Banks at 1930s consolidation levels

I agree with these people that once these effects of dodd frank were spotted the bill should have been altered.

Did anyone try ?

Ill go look
 
http://www.upi.com/Top_News/US/2013...-for-small-banks-credit-unions/6121386109831/


WASHINGTON, Dec. 3 (UPI) -- It may be a while before the full impact of post-recession bank reform reaches small financial institutions across the country, but one thing is certain: compliance with the Dodd-Frank law demands resources -- both time and money -- to navigate the new regulatory landscape.
Small financial institutions do not have teams of attorneys and consultants to work on compliance and often drain resources that could have gone toward working with customers. That was the picture that emerged in the testimony of experts appearing Tuesday at a hearing of the House Small Business subcommittee on investigations, oversight and regulations.

Assuring compliance “takes an inordinate amount of time away from what we should be doing,” said B. Doyle Mitchell Jr., president and CEO of Washington-based Industrial Bank.

“Community banks should be exempt from Dodd-Frank overall,” Mitchell said. He estimated that his employees already devote an additional 10 percent of their workdays to regulatory issues, such as ensuring mortgage applications meet the strict requirements determined by the Consumer Financial Protection Bureau.


Read more: http://www.upi.com/Top_News/US/2013...ks-credit-unions/6121386109831/#ixzz2mY0qEjYK
 
evince said:
fuck off Im doing my homework unlike you are willing to do
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Posting random articles and saying 'nope' is not doing anything. Don't post crap that has nothing to do with what we are discussing. I can go post random links that mention Dodd Frank. That is not doing homework. I already posted links that show Dodd Frank is hurting small banks. Have you bothered to READ them? THAT would be doing homework. Right now you are simply looking in desperation for a way to blame Republicans for the Democrats failure.
 
looks like there is time to fix this.

do you think the house is willing or will they just try to repeal Obama care 40 more times instead/
 
evince said:
http://www.upi.com/Top_News/US/2013...-for-small-banks-credit-unions/6121386109831/


WASHINGTON, Dec. 3 (UPI) -- It may be a while before the full impact of post-recession bank reform reaches small financial institutions across the country, but one thing is certain: compliance with the Dodd-Frank law demands resources -- both time and money -- to navigate the new regulatory landscape.
Small financial institutions do not have teams of attorneys and consultants to work on compliance and often drain resources that could have gone toward working with customers. That was the picture that emerged in the testimony of experts appearing Tuesday at a hearing of the House Small Business subcommittee on investigations, oversight and regulations.

Assuring compliance “takes an inordinate amount of time away from what we should be doing,” said B. Doyle Mitchell Jr., president and CEO of Washington-based Industrial Bank.

“Community banks should be exempt from Dodd-Frank overall,” Mitchell said. He estimated that his employees already devote an additional 10 percent of their workdays to regulatory issues, such as ensuring mortgage applications meet the strict requirements determined by the Consumer Financial Protection Bureau.


Read more: http://www.upi.com/Top_News/US/2013...ks-credit-unions/6121386109831/#ixzz2mY0qEjYK
Click to expand...

yet another article that states the Dems fucked over small banks...
 
evince said:
looks like there is time to fix this.

do you think the house is willing or will they just try to repeal Obama care 40 more times instead/
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LMAO... you posted a thread that shows the consolidation that has occurred... now because this is a Dem failure you try to pretend there is time to 'fix' it. Then you try to push blame onto the House... tell us Desh... why hasn't Reid and the Dem led Senate done anything?
 
Oh BTW they said in that article I posted there is time to avoid the harm.
that means this great consolidation wasn't caused by dodd frank.

it was the crash
 
evince said:
ready to fix it?


will you write your congress critter and tell them to back it?
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I have already written to them many times to repeal Dodd Frank as it does little to reign in the big banks and it does a LOT to hurt the small community banks. In place I suggested they put Glass Steagall back in place. That will force the retail and investment banks to be split... making the 'too big to fail' banks small enough to do with out should they fail.
 
Superfreak said:
I have already written to them many times to repeal Dodd Frank as it does little to reign in the big banks and it does a LOT to hurt the small community banks. In place I suggested they put Glass Steagall back in place. That will force the retail and investment banks to be split... making the 'too big to fail' banks small enough to do with out should they fail.
Click to expand...


how would repealing dodd frank help them silly?
 
evince said:
Oh BTW they said in that article I posted there is time to avoid the harm.
that means this great consolidation wasn't caused by dodd frank.

it was the crash
Click to expand...

Which is yet another liberal excuse. Pretending that Dodd Frank isn't a part of the reason behind all the consolidations is simply a partisan spin.
 
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