Friday, February 3, 2017

Dodd-Frank May Be Going Under President Trump’s Knife

President Donald Trump plans to sign an executive action to scale back the 2010 Dodd-Frank financial-overhaul law, in a sweeping plan to dismantle much of the regulatory system put in place after the financial crisis.

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“Americans are going to have better choices and Americans are going to have better products because we’re not going to burden the banks with literally hundreds of billions of dollars of regulatory costs every year,” White House National Economic Council Director Gary Cohn said in an interview with The Wall Street Journal. “The banks are going to be able to price product more efficiently and more effectively to consumers.”

Trump also will sign an executive order that directs the Treasury secretary and financial regulators to come up with a plan to revise rules the Dodd-Frank law put in place.

This should put some zip back into new home construction.

1 comment:

Anonymous said...

Anyone who's excited about the elimination of the Fiduciary Rule within Dodd-Frank did not have any experience in housing - not just modular housing - between 2008 and 2013. A little homework or research into the Fiduciary Rule, it's purpose, and ramifications would tell you we just made a housing bubble part of a predictable future. While you're conducting your google search(es) for that, type "Gary Cohn" in as well. See his background and tell me I'm wrong.

You're right though, it will put "a zip back into new home construction."

Let's see what manufacturers and builders remember the lessons from just a few short years ago.