Skip to main content

Yellen: Dodd-Frank Made Banks Safer

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.
About the author
Feb 14, 2017
Cost Of Ransomware Attack: $12 To $17M

loanDepot tells federal regulators that the cybersecurity incident will impact its Q1 earnings.

Post-Closing Challenges For Mortgage Brokers

How to navigate repurchase and clawback demands

Challenges And Solutions To Home Lending In Native American Communities Presented By NCRC

Bankers from around the nation participate in Redlining the Reservation webinar.

How Burnett v. NAR Will Impact The Mortgage Industry

Decision could make process harder for first-time buyers

First National Bank of Pennsylvania Settles Redlining Charges For $13.5 Million

Justice Department accuses major mortgage lender of discriminating against Black and Latino homebuyers in North Carolina.