Dodd-Frank

The current partisan war over the Dodd-Frank Act is just one dispute in a broader ideological divide about the government’s role in industry.

Under the Trump administration, the challenge for the industry is to find the proper balance between supporting post-financial crisis regulations that have worked well and campaigning for reform efforts that have been ineffective.

A vote on a House plan to replace the Dodd-Frank Act may not happen as quickly as originally expected due to limited floor time and other legislative priorities, such as health care reform, that are likely to take precedent.

In President Trump’s first joint address to Congress, he listed several top priorities, including repealing Obamacare and enacting tax reform, but made no mention of reforming the Dodd-Frank Act.

As banking leaders gain a more substantial policymaking role, they will have a greater impact if they stake out a clear position in favor of regulations that protect investors and depositors.

President Trump signed an executive order Friday requiring every agency to establish a task force focused on eliminating unnecessary regulations.

The trend of embracing risk-based pricing in conventional mortgage fees and loan-level pricing should be reversed. Instead, credit risk should be pooled to ensure all creditworthy families have access to their American dreams.

Any amendments to the current regulatory framework must preserve banking regulation and supervision’s vital role in the proper functioning of our economy.

Economic growth and lasting positive change within the mortgage industry require carefully considered strategy and close analysis of potential scenarios, not hastily-conceived executive orders.

State mortgage regulatory examinations are focusing on systemic issues and using their broad authority under the Dodd-Frank Act to enforce the Consumer Financial Protection Bureau's servicing rules.