FDIC Official Plots Changes for DoddFranks Bank Regulations

first_img March 13, 2017 956 Views A top official with the FDIC offered up a blueprint on Monday that would allow the largest banks to divvy up their financial activities in return for relief from some regulations under Dodd-Frank.FDIC Vice-Chairman Thomas Hoenig presented his plans to attendees at the Institute of International Bankers Annual Washington Conference.If enacted, the new framework would enable banks to separate spheres of traditional activity from more nontraditional ones in return for relief from the regulatory space.The plan would ideally eliminate a competitive disadvantage for smaller financial-services institutions unable to keep up with compliance reporting.Hoenig said that Dodd-Frank—while well-intended—had inundated banks with costly and complicated regulations, “especially smaller banks.”By making these long-overdue changes, he said, the FDIC and other regulators could also resolve insolvency concerns before they happen.“With these conditions in place, too-big-to-fail would be well on its way to being addressed, and a true opportunity for regulatory relief for these largest banks would be provided,” the FDIC official added.Critics have long held that Dodd-Frank imposes a one-size-fits-all approach to regulation that burdens smaller banks with onerous compliance requirements.One Harvard study found in 2015 that community banks had seen their shares of assets decline by more than 12 percent since Dodd-Frank’s enactment. The study’s authors claimed that “an increasingly complex and uncoordinated regulatory system has created an uneven regulatory playing field that is accelerating consolidation for the wrong reasons.”Hoenig—reportedly under consideration for a top regulatory job in the Trump administration—announced his proposal as Dodd-Frank’s defenders brace for an overhaul of the financial-reform law.Speaking with us for a related story, former Rep. Jim Moran (D-Va.) warned that too much change too quickly could reverse the economic gains seen since the Great Recession.“The financial stocks have never been higher . . . and [banks] have adjusted to dealing with Dodd-Frank regulations,” the former congressman said.He added that changes “could backfire” on those who seek to make them, especially if lax regulation leads to regulators easing off too much on banks that should be regulated. in Daily Dose, Featured, Government Dodd-Frank FDIC Thomas Hoenig 2017-03-13 Rachel Williamscenter_img FDIC Official Plots Changes for Dodd-Frank’s Bank Regulations Sharelast_img read more

I think a deep threat is something that they need

first_img“I think a deep threat is something that they need, they need somebody that can stretch the field.”Yes, when Warner says “Randy” he’s talking about none other than the recently-retired Randy Moss. And no, Warner did not suffer another concussion just before joining Sports 620 KTAR’s Burns and Gambo Friday afternoon when he made the statement.It makes sense on some levels. Assuming he won’t stay retired for long, Moss could very well walk onto a field and be one of the best players on it. He’s just one season removed from an 83 catch, 13 touchdown campaign with New England, and has a career average of 15.6 yards per catch. Then again, this is the same Randy Moss who played for three different teams last season, tallying just 28 catches for 393 yards, scoring just five times on the year. Those numbers didn’t help the teams he played for, and a certain writer’s fantasy football team was hurt by them, too.Anyway, as an idea Randy Moss to Arizona sounds good. But remembering the fact that nobody really wanted him last season, and he retired because nobody wants him now, you have to believe there’s a legitimate reason as to why. D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ The Arizona Cardinals missed out on signing both Braylon Edwards and Malcolm Floyd, but there is still a dynamic playmaker without a team.And, former Cardinal-turned-NFL Network-analyst Kurt Warner says the team should go get him.“I still think there’s something in the tank for Randy,” Warner said. “The one thing that you know is he has a great relationship with Larry Fitzgerald, that could be a huge plus coming to this organization. Top Stories Comments   Share   last_img read more