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On its fifth anniversary, Hensarling slams Dodd-Frank

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Mortgage Professional America | 22 Jul 2015, 08:50 AM Agree 0
The chairman of the House Financial Services committee says the Dodd-Frank Act has made America “less stable, less prosperous and less free.”
  • Brad | | 22 Jul 2015, 11:08 AM Agree 0
    WOW! Hensarling - a politician and legislator that is actually MAKING SENSE and understands what is going on, according to this piece. Question- where the heck were you Hensarling five years ago when the ridiculous Dodd-Frank bill was passed!!! AND- what do we do now?

    Please, Hensarling, follow through on what you are saying and abolish the Dodd-Frank and the CFPB. We need more competition with smaller banks, less sweeping regulation that misses the mark penalizing our country's entrepreneurs and for goodness sake - fix the residential appraisal process and the gross injustice that is being served to consumers.
    Thank you!!!!
  • jburns | | 22 Jul 2015, 02:21 PM Agree 0
    Jeb Hensarling is exactly right. Whenever the regulators outnumber the producers of goods and services of any industry you have major economic repercussions. The "rule makers" today are just strangling the housing finance industry and the health care industry. The consequences are less competition, higher consumer costs, less service provided and a weak overall economy. Over regulation stifles the necessary creative enthusiasm, and energy of people trying to work and compete in any industry. The two crises I have experienced in my lifetime of working in the housing finance area were both created by our Federal Government acting and reacting with regulation or deregulation in an industry they did not understand the consequences of their actions, i.e. the Savings and Loan Crises and the housing crises. In both they created the problems and and over reacted to fixing the issues in the name of consumer protection. Dodd Frank is the worst thing that could have happened to the housing industry. We are still throwing rules and regulations at problems, that were caused by the Federal government, seven years after they were fixed.
  • Warren Goldberg, CMPS | | 23 Jul 2015, 05:49 PM Agree 0
    WOW. Finally some rational and ACCURATE analysis of this abomination known as Dodd-Frank. Keep going Rep Hensarling! Follow through!
  • Griff | | 27 Jul 2015, 10:14 AM Agree 0
    Yeah, too sad that finally someone in Congress is making sense, especially this guy. Nonetheless trying to undo Dodd Frank is an impossible task without a total overhaul of Washington. The cfpb does not need more than one person heading it up, or even be responsible to Congress for budget. It just needs to go away.
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