A small number of alternative financial services providers would be permitted to operate nationwide and on the Internet without adequate policing of their products for underserved consumers.
Dodd-Frank, aimed at restoring confidence in the so-called Wall Street banks, had a devastating effect on Main Street banks, and is now threatening their long-established role as the backbone of the American Dream.
Despite warnings of the potential dire consequences, a steady stream of government policies enabled and encouraged banks to make mortgages to people who could not afford them.
Should San Bernardino's plan to seize underwater mortgages through eminent domain move forward, its home values would likely plummet and local credit would dry up.
The Treasury Department has released an infographic outlining how the financial reform legislation helps to strengthen Main Street banks. Do you agree Dodd-Frank creates a level playing field for financial institutions?
The political game in Washington might not be one former SIGTARP Neil Barofsky was willing to play, but it suits Wall Street lobbyists perfectly. What are we, citizens and taxpayers, supposed to do now?
