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

Phil Hall

Link copied

Published

Feb 14, 2017

Operations

Wells Fargo Backs 3D-Printed Housing With New Financing Program

Qualified buyers can receive a 50-basis-point lender credit as the bank looks to support alternative housing construction

Wells Fargo is expanding its involvement in the 3D-printed housing sector, announcing it has been named a preferred home mortgage lender for ICON, a company specializing in advanced construction technology.Under the arrangement, qualified buyers who finance the purchase of a...

Non-QM

eRESI Rolls Out AI Guideline Search For Non-QM Lending

Correspondent sellers will receive complimentary access to Guideline Guru's platform, allowing real-time searches of eRESI underwriting guidelines and instant AI-generated answers

eRESI has partnered with Guideline Guru to provide correspondent clients with complimentary access to an artificial intelligence-powered tool that streamlines Non-QM guideline searches and accelerates loan decision-making.The partnership will make Guideline Guru available ac...

Jul

Chandler, AZ

More from

Regulation and Compliance

MISMO Launches AI Governance Framework For Mortgage Lenders

New FRAME toolkit gives lenders, servicers, and technology providers a roadmap for managing AI risk while supporting innovation

Regulation and Compliance

Jun 11, 2026

CFPB Tells Lenders Immigration Status Can Factor Into ATR Analysis

CFPB frames immigration status as a potential ability-to-repay factor when future U.S.-based income is at risk

Regulation and Compliance

Jun 10, 2026

UAD 3.6 Deadline Nears; First American Earns Verification

First American's ACI Sky Workbench gains verification ahead of the Nov. 2 implementation date for the GSEs' updated appraisal reporting requirements

Regulation and Compliance

Jun 08, 2026

MISMO Introduces New Loan Boarding Standard

Wrapper Files support standardized data transfers between origination and servicing systems, with potential savings of $60 to $160 per loan

Regulation and Compliance

May 29, 2026

The GLBA Compliance Gap Your AI Deployment Just Opened

Old statutes, new models, and the vendor contract you signed before machine learning became operational

Regulation and Compliance

May 26, 2026

FHA Keeps Tri-Merge Credit Reports While Expanding Approved Scoring Models

HUD says FHA lenders will continue using three-bureau credit reports even as the agency adopts newer scoring models aimed at increasing competition and modernizing mortgage underwriting

Regulation and Compliance

May 26, 2026

Popular