{"id":632,"date":"2017-02-03T00:00:00","date_gmt":"2017-02-03T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/president-trump-seeks-to-dismantle-dodd-frank\/"},"modified":"2017-02-03T00:00:00","modified_gmt":"2017-02-03T00:00:00","slug":"president-trump-seeks-to-dismantle-dodd-frank","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/president-trump-seeks-to-dismantle-dodd-frank\/","title":{"rendered":"President Trump Seeks to Dismantle Dodd-Frank"},"content":{"rendered":"

[ad_1]
\n<\/p>\n

<\/p>\n

President Donald Trump reportedly will sign an executive action Friday to scale back the regulatory system that was put in place in 2010 in response to the financial crisis. The Trump administration has set out to remove what it views as regulatory burdens by\u00a0overhauling mortgage<\/a> financing<\/a> giants Freddie Mac and Fannie Mae and easing lending regulations.<\/p>\n

\n

Read more<\/strong>: After Election, What Happens to Housing Issues?<\/span><\/a><\/p>\n<\/blockquote>\n

“Americans are going to have better choices and Americans are going to have better products because we’re not going to burden the banks with literally hundreds of billions of dollars of regulatory costs every year,” Gary Cohn, White House National Economic Council director, told The Wall Street Journal. “The banks are going to be able to price product more efficiently and more effectively to consumers.”<\/p>\n

President Trump is to order a sweeping review of the Dodd-Frank Act rules, which will include a close look at how the government supervises big financial firms that aren\u2019t traditional banks, Cohn says. Cohn says that existing regulations under Dodd-Frank have made it too difficult for banks to lend and has limited consumers\u2019 choices of financial products.<\/p>\n

Cohn says the Trump administration also is planning to overhaul mortgage finance giants Fannie Mae and Freddie Mac, which have remained under the government conservatorship since the financial crisis.<\/p>\n

“This is a table setter for a bunch of stuff that is coming,” Cohn says.<\/p>\n

The changes are expected to be met with some criticism, particularly among Democrats, who have argued in the past that the regulations protect the average borrowers as well as investors from abusive practices. They have pushed for tighter controls on banks and lenders<\/a> in response to the subprime mortgage crisis.<\/p>\n

“I’m not sitting here saying we want to go back to the good old days,” Cohn told The Wall Street Journal. “We have the best, most highly capitalized banks in the world, and we should use that to our competitive advantage. But on the flip side, we also have the most highly regulated, overburdened banks in the world.”<\/p>\n

Source: \u201cTrump Moves to Undo Dodd-Frank: White House Says Banks Burdened By Rules After Financial Crisis<\/a>,\u201d The Wall Street Journal (Feb. 3, 2017) [log-in required] and \u201cTrump to Order Review of Dodd-Frank, Halt Obamas Fiduciary Rule<\/a>,\u201d Bloomberg (Feb. 3, 2017)<\/em><\/p>\n<\/div>\n

[ad_2]
\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

[ad_1] President Donald Trump reportedly will sign an executive action Friday to scale back the regulatory … President Trump Seeks to Dismantle Dodd-Frank<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":633,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[518,525,1330,344,408,41,818,15296,842],"class_list":["post-632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-america","tag-donald-trump","tag-financial","tag-housing","tag-mortgage","tag-property","tag-real","tag-target","tag-trump"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/1h7vM1GI0QI","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":7364,"url":"https:\/\/amazingproperty.com.ng\/blog\/deutsche-bank-subpoenaed-for-trump-related-documents\/","url_meta":{"origin":632,"position":0},"title":"Deutsche Bank subpoenaed for Trump-related documents","author":"Amazing Property","date":"December 5, 2017","format":false,"excerpt":"Germany\u2019s Deutsche Bank has subpoenaed for documents related to its business dealings with Donald Trump, as part of the probe into possible collusion between the US president\u2019s campaign and Russia, a source close to the matter confirmed to AFP Tuesday. The source confirmed the subpoena by special prosecutor Robert Mueller\u2019s\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Trump1.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/Trump1.png?fit=412%2C250&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11073,"url":"https:\/\/amazingproperty.com.ng\/blog\/operatives-urge-regulatory-measures-to-stimulate-mortgage-sub-sector\/","url_meta":{"origin":632,"position":1},"title":"Operatives urge regulatory measures to stimulate mortgage sub-sector","author":"Amazing Property","date":"December 28, 2020","format":false,"excerpt":"\u00a0 Regulatory measures to stimulate mortgage sub-sector . Mortgage operators have appealed for regulatory-induced fiscal and monetary measures that would stimulate the sub-sector towards sustainable development. They also implored the Central Bank of Nigeria (CBN) to fast-track implementation of the Mortgage Interest Draw-Back Programme (MIDP), together with other policy measures\u2026","rel":"","context":"In "Mortgage"","block_context":{"text":"Mortgage","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/mortgage\/"},"img":{"alt_text":"mortgage sub-sector","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2020\/04\/mortgage-1-750x430.jpg?fit=750%2C430&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2020\/04\/mortgage-1-750x430.jpg?fit=750%2C430&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2020\/04\/mortgage-1-750x430.jpg?fit=750%2C430&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2020\/04\/mortgage-1-750x430.jpg?fit=750%2C430&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1505,"url":"https:\/\/amazingproperty.com.ng\/blog\/ben-carson-confirmed-as-hud-secretary\/","url_meta":{"origin":632,"position":2},"title":"Ben Carson Confirmed as HUD Secretary","author":"Amazing Property","date":"March 2, 2017","format":false,"excerpt":"[ad_1] The U.S. Senate today confirmed retired pediatric neurosurgeon Ben Carson to be the 17th secretary of the Department of Housing and Urban Development. The vote was 58 to 41. A simple majority of 51 votes was needed to confirm him. In his confirmation hearing before the Senate Banking Committee\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/Ben_Carson_Skidmore_creative_commons.jpg?fit=453%2C599&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2908,"url":"https:\/\/amazingproperty.com.ng\/blog\/mortgage-banks-propose-one-year-job-insurance-scheme\/","url_meta":{"origin":632,"position":3},"title":"Mortgage banks propose one-year job insurance scheme","author":"Amazing Property","date":"April 3, 2017","format":false,"excerpt":"Elect Akinlusi as MBAN president Fresh efforts are underway to\u00a0seek\u00a0pragmatic and contemporary solutions to the challenges in the mortgage sub-sector, following plans by the operators to extend\u00a0loss of job insurance scheme, which will cover\u00a0mortgage default up to a year. The scheme is already in place and covers up to\u00a0six months.\u00a0Mortgage\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Mortgage Rates Stayed Stable\u00a0","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/mortgage.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/mortgage.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/mortgage.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/mortgage.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/mortgage.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":625,"url":"https:\/\/amazingproperty.com.ng\/blog\/buy-a-home-with-no-monthly-payments\/","url_meta":{"origin":632,"position":4},"title":"Buy a Home With No Monthly Payments?","author":"Amazing Property","date":"February 3, 2017","format":false,"excerpt":"Reverse mortgages for purchases have been around a while but they stand to see more use as younger baby boomers hit retirement age. The mortgages are backed by FHA and they let households buy a home without having to make monthly mortgage payments. Instead, buyers put up a fairly sizable\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4609,"url":"https:\/\/amazingproperty.com.ng\/blog\/the-word-from-d-c-tax-reform\/","url_meta":{"origin":632,"position":5},"title":"The Word From D.C.: Tax Reform","author":"Amazing Property","date":"May 17, 2017","format":false,"excerpt":"[ad_1] Always Be Networking: Valuable connections abound at the Legislative Meetings & Trade Expo. High Hurdle for\u00a0Tax Reform \u201cNo Republicans want to say they got nothing done.\u201d\u2014Fox News journalist Chris Wallace Tax reform is a priority of President Donald\u00a0Trump and the Republican\u00a0Congress, but \u201cFox News Sunday\u201d host Chris Wallace said\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/dn_bigbizcard_480-2.jpg?fit=480%2C230&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=632"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/632\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/633"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}