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A Law Abused: Why Dodd-Frank Is Killing Off Community Banks

Business  (tags: Dodd-Frank reform, community banks, Too Big To Fail, bank bailouts, Dodd Frank Act, public banks, Bank of North Dakota, public banking )

- 1359 days ago -
The Dodd-Frank regulations are so lethal to community banks that some say the intent was to force them to sell out to the megabanks. The too-big banks are over 30% bigger than before the Act was passed in 2010, and 80% bigger than before the 2008 crisis.


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Rose Becke (141)
Sunday October 25, 2015, 2:01 am
Meanwhile, their smaller competitors are struggling to survive. Community banks and credit unions are disappearing at the rate of one a day. Access to local banking services is disappearing along with them. Small and medium-size businesses – the ones that hire two-thirds of new employees – are having trouble getting loans; students are struggling with sky-high interest rates; homeowners have been replaced by hedge funds acting as absentee landlords; and bank fees are up, increasing the rolls of the unbanked and underbanked, and driving them into the predatory arms of payday lenders.

Even some well-heeled clients are being rejected. In an October 19, 2015 article titled “Big Banks to America’s Firms: We Don’t Want Your Cash,” the Wall Street Journal reported that some Wall Street banks are now telling big depositors to take their money elsewhere or be charged a deposit fee.


Nancy C (806)
Sunday October 25, 2015, 4:18 am
Extremely dpressing as we have all given our "honeymoon and wedding monies" (as in Wonderful Life) many times over just to exist as families. Our monies should not be used in political games and should grow for us, not the big and powerful (Oz) banks.I pray for the day when banking criminals pay the price for their stupidity and greed. ( ) The obliteration of Citizens United is also crucial...VOTE Bernie in the primaries...we need him.

jan b (5)
Sunday October 25, 2015, 7:09 am
Dodd-Frank mostly remains a lightning rod—too much regulation for some and not enough for others,

\Dodd-Frank created the Consumer Financial Protection Bureau(CFPB), to protect consumers from 'unscrupulous business' practices by banks. The CFPB consolidated a number of existing consumer protection responsibilities in other government agencies.

Good article ---below

The CFPB works with regulators in large banks to stop transactions that hurt consumers, such as risky lending. The CFPB also provides consumers with access to 'plain English' information about mortgages and credit scores along with a 24-hour toll-free consumer hotline to report issues with financial services.

The CFPB also oversees credit reporting agencies, credit and debit cards, payday and consumer loans— but not auto loans from dealers.

jan b (5)
Sunday October 25, 2015, 7:21 am
NANCY we need Bernie like a hole in the head. Not only is he economically illiterate in his beliefs he's stupid----been a joke to economist. Sanders praised the accomplishments of Fidel Castro.
www. ]

Bernie Sanders, the Brooklyn socialist , generated a great deal of laughter when he wondered aloud how it is that a society with 23 kinds of deodorant and 18 kinds of sneakers has hungry children... The reality is precisely the opposite : Poverty is worst where consumers have the fewest choices, e.g., in North Korea, the old Soviet Union, the socialist paradise that is modern Venezuela, that Sanders thinks is great. The second falsehood is that choice in consumer goods represents the loss of resources that might have gone to some other end — that if we had only one kind of sneaker, then there would be more food available for hungry children. I don't think Sanders is stupid---I think he's been clever at fooling many people into thinking he's godlike---
Read more at:

Janet B (0)
Sunday October 25, 2015, 12:33 pm

Roger G (148)
Sunday October 25, 2015, 12:35 pm
noted, thanks

Lois Jordan (63)
Sunday October 25, 2015, 2:21 pm
Noted. Thanks, Judy.
It was common knowledge that bankster lobbyists basically wrote Dodd-Frank. All the screaming, fighting and headaches at that time over the details.....with Democrats saying they had to "work with Republicans" was hogwash. I stayed up all night watching C-SPAN as the bill was in its final stages. Closed door meetings took place with members of Congress emerging with smiles, laughter and back-slapping.

Items that SHOULD HAVE been included back then, like re-instating Glass-Steagall were intentionally left out.

It was also so obvious that the Banksters were running the show since the bill to bail them out was only 3 pages long, and only approved when a second vote was taken. Dodd-Frank was over 2,300 pages long, "the longest and most complicated bill ever passed by the U.S. legislature."

BTW, those who are laughing at Bernie now, won't be laughing so hard when he wins the election. The crowds he is generating in both blue states as well as red states are bigger than anyone else's. The enormous number of donors supporting his campaign can't be ignored. He is nobody's fool; which is obvious if anyone reads about his decades-long work on behalf of the working class. It is useless to minimize his advocacy.

Birgit W (160)
Sunday October 25, 2015, 3:04 pm
Noted. Thanks.
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