Hints and tips:
...To the dealer banks, the Dodd Frank Act and the Basel Accords on bank regulation were heavy handed over-reach....
...Quarles, as the Fed’s vice-chair for supervision) filed the sharp edges off the Dodd-Frank rules and the Community Reinvestment Act....
...The Fed’s regulatory chief, Randy Quarles, had already acknowledged banks’ biggest beef a couple of months ago — with the so-called RentD rule that tests the intent of securities purchases — saying banks...
...The rule, first outlined in 2016, was among the last pieces of the 2010 Dodd-Frank Act still awaiting implementation....
...Both are noted critics of the 2010 Dodd-Frank Act, the landmark piece of financial-sector legislation of the Obama era....
...Ditto Randy Quarles, a former private-equity bigwig, who is in line to become the vice-chair of supervision at the Fed....
...Few laws have been ripped up, as yet, despite Donald Trump’s early pledge to “do a number” on Dodd-Frank....
...The best route to profit-boosting relief, he says, is looser interpretations of existing rules from the likes of Randy Quarles, recently installed as the supervisor-in-chief at the Federal Reserve....
...“I said, ‘Dear Professor Dodd. I thought you guys were dead, but now that I found out that you’re alive and teaching at Columbia, I would really like to come....
...“What Trump knows is that access to credit is extremely important,” says Randy Neugebauer, who recently retired as a Republican congressman and member of the house financial services committee....
...Critics said the report showed the need for the new president to designate a vice-chair for supervision at the Fed — a role that was mandated by the 2010 Dodd-Frank Act but which has been left unfilled,...
...Randy Guynn, a partner at Davis Polk in New York, described the proposed ban as “a solution in search of a problem. It seems like they want to turn back the clock”....
...“The signal from the Fed that banks can pay dividends is crucial,” says Randy Warren, principal at Warren Financial....
...The industry fears a new federal regulator, created by the Dodd-Frank financial reform passed in 2010, could take aim next....
...Yet reform was not included in the Dodd-Frank bill and was ignored by Barack Obama in his State of the Union address....
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