Yellen: Dodd-Frank Made Banks Safer – NMP Skip to main content

Yellen: Dodd-Frank Made Banks Safer

Phil Hall
Feb 14, 2017
What is Janet Yellen doing after concluding her historic four-year term as the first woman to chair the Federal Reserve?

Federal Reserve Chairwoman Janet Yellen used congressional testimony to take umbrage at the notion that the Dodd-Frank Act negatively impacted the U.S. financial services industry.
 
According to Bloomberg coverage of her appearance before the Senate Banking Committee, Yellen contradicted President Donald Trump’s opinion of the Dodd-Frank Act as being a “disaster” in need of being rolled back.
 
“I see well-capitalized banks that are regarded as safe, strong and sound,” Yellen said, adding that U.S. lenders are “capturing market share” from their European rivals.
 
Yellen also stated that she looked forward to working with Treasury Secretary Steven Mnuchin and that she would cede the Fed’s representation at global conferences to a vice chairman to be appointed by the president. However, she insisted that she will not leave the Fed until her terms expires in 2018, a reference to Fed Governor Daniel Tarullo’s abrupt resignation last week ahead of his term’s expiration.
Published
Feb 14, 2017
CFPB Seeks Insight On Creating A Fairer Mortgage Market

The Consumer Financial Protection Bureau has been actively looking to create a fairer mortgage market, free of discriminatory engagements. To do so, it issued a Request for Information to seek input on rules implementing the Home Mortgage Disclosure Act.

Regulation and Compliance
Nov 17, 2021
Regulators Renew Effort to Protect Against Foreclosures

CFPB, The Fed, FDIC and other agencies will watch for compliance with COVID-19 protections

Regulation and Compliance
Nov 10, 2021
Fed To Begin Tapering Asset Purchases by 14.3% This Month

Also sets target range for the federal funds rate at 0 to 1/4%.

Regulation and Compliance
Nov 03, 2021
CFPB Cracks Down On Discriminatory Credit Reporting For Black And Hispanic Consumers

Consumers in majority Black and Hispanic neighborhoods are far more likely to have disputes appear on their credit reports. 

Regulation and Compliance
Nov 03, 2021
CFPB Names 2 New Assistant Directors

Former Obama Administration officials will lead Supervision Policy, Enforcement divisions.

Regulation and Compliance
Oct 29, 2021
FHFA Proposes Extra Disclosure Rules For Fannie, Freddie

The proposed rule for the Enterprise Regulatory Capital Framework seeks to put Enterprises on a "level playing field" with U.S. banking requirements.

Regulation and Compliance
Oct 28, 2021