Financial choice act.

[Penelope]

Financial CHOICE Act (H.R. 10) is a bill introduced to the 115th United States Congress in 2017 that would, if enacted, roll back "many of the protections in the landmark Dodd-Frank 2010 federal law, including the "strongest" Wall Street "regulations from the financial crisis.[1] The legislation passed the House 233–186 on June 8, 2017.[2] The 600-page[1] legislation was crafted by Congressman Jeb Hensarling (R-TX), chair of the House Financial Services Committee.[2]

Timeline[edit]​

The bill passed the Republican-led House on June 8, 2017 along party lines.[2]

Financial CHOICE Act - Wikipedia

en.wikipedia.org

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If only tramp wasn't Pres. This is all due to him.

 

[TNHarley]

So what in this bill caused all this to happen?

 

[Moonglow]

(Sec. 123) The Chief Justice of the U.S. Supreme Court shall designate judges to hear Chapter 11 bankruptcy cases involving covered financial corporations.

That is not the function of the US Supreme Court.

 

[johngaltshrugged]

Typical Progjection 101.
Biden was in office for 2 straight years with control of Congress & things go to shit so blame Repubs.
It's pathetic.

Anybody else think it's hilarious that the former Congressman who co-sponsored the Dodds-Frank bank regs was on the board of one of the failed banks?
Barney Frank, the gay Elmer Fudd who resigned under reports he was running a prostitution ring out of his DC place with his boyfriend.

I'm sure that is somehow DT's fault too

Barney Frank Sat on Board for Collapsed Signature Bank

Former Rep. Barney Frank (D-MA), author of the 2010 Dodd-Frank bill, sat on the board for Signature Bank, which has collapsed.

www.breitbart.com

 

[Penelope]

So what in this bill caused all this to happen?

read it and find out.

 

[yidnar]

Financial CHOICE Act (H.R. 10) is a bill introduced to the 115th United States Congress in 2017 that would, if enacted, roll back "many of the protections in the landmark Dodd-Frank 2010 federal law, including the "strongest" Wall Street "regulations from the financial crisis.[1] The legislation passed the House 233–186 on June 8, 2017.[2] The 600-page[1] legislation was crafted by Congressman Jeb Hensarling (R-TX), chair of the House Financial Services Committee.[2]

Timeline[edit]​

The bill passed the Republican-led House on June 8, 2017 along party lines.[2]

Financial CHOICE Act - Wikipedia

en.wikipedia.org

----------------------------------------

If only tramp wasn't Pres. This is all due to him.

border crisis .....blame Trump
Covid lab leak....blame Trump
Afghanistan withdrawal disaster .....blame Trump
inflation .....Blame Trump
woke Bank failures ....blame Trump
train derailment response ...blame Trump
Russia invades Ukraine ....Blame Trump
high gas prices ....blame Trump
soaring crime...blame Trump

and on and on and on......
NEWS FLASH ! BIDEN IS IN HIS 3rd YEAR AS POTUS !
does the sitting POTUS in his 3rd year in office bear responsibility for anything ?

 

[TNHarley]

read it and find out.

So you have no idea.

 

[iamwhatiseem]

Democrats 2019 - "Stop blaming everything on the last President!!"
Democrats 2023 - Blame everything on the last President

 

[Penelope]

border crisis .....blame Trump
Covid lab leak....blame Trump
Afghanistan withdrawal disaster .....blame Trump
inflation .....Blame Trump
woke Bank failures ....blame Trump
train derailment response ...blame Trump
Russia invades Ukraine ....Blame Trump
high gas prices ....blame Trump
soaring crime...blame Trump

and on and on and on......
NEWS FLASH ! BIDEN IS IN HIS 3rd YEAR AS POTUS !
does the sitting POTUS in his 3rd year in office bear responsibility for anything ?

It's his fault, you want limited gov. How is that going to work for with all the health you guys suffered, flood ins and hurricanes, one after another, how is that going to work for you red states.

 

[Penelope]

Democrats 2019 - "Stop blaming everything on the last President!!"
Democrats 2023 - Blame everything on the last President

Blame falls on the former President.

 

[Papageorgio]

It's his fault, you want limited gov. How is that going to work for with all the health you guys suffered, flood ins and hurricanes, one after another, how is that going to work for you red states.

How did this bill in 2018 cause the bank to fail? I read your link there is no reason given. Can you expound on your conclusion and how you reached it?

 

[Penelope]

How did this bill in 2018 cause the bank to fail? I read your link there is no reason given. Can you expound on your conclusion and how you reached it?

Limited gov sucks. A S.C house just fell in the ocean, that will be on the taxpayers.

 

[Papageorgio]

Limited gov sucks.

That explains nothing, how did it cause a private company to fail? If is as bad as you claim, why didn’t the last Congress with Democratic majorities overturn the very bad bill?

 

[Penelope]

How did this bill in 2018 cause the bank to fail? I read your link there is no reason given. Can you expound on your conclusion and how you reached it?

You can read!

 

[Papageorgio]

You can read!

I did, what is the connection? I don’t see it. Seems you are a partisan hack and your purpose is to divide, not reason. My biggest issue with Greene is she is a partisan that likes division, you two seem to be the same in that regard. You should run for office, you are shallow enough.

 

[1srelluc]

Senate passes deregulation bill scaling back Dodd-Frank

The bill, which was years in the making, was a rare bipartisan accomplishment at a time when Congress is gridlocked on almost all major issues.

www.politico.com

the Senate agreed in a 67-31 bipartisan vote to overhaul a wide range of regulations imposed on small and large lenders in the years since.



BTW....I had to look real hard for a Senate passage link....It's like everything other than the House vote was scrubbed....I guess they forgot Politico.

 

[Penelope]

Senate passes deregulation bill scaling back Dodd-Frank

The bill, which was years in the making, was a rare bipartisan accomplishment at a time when Congress is gridlocked on almost all major issues.

www.politico.com

the Senate agreed in a 67-31 bipartisan vote to overhaul a wide range of regulations imposed on small and large lenders in the years since.



BTW....I had to look real hard for a Senate passage link....It's like everything other than the House vote was scrubbed....I guess they forgot Politico.

30 some Senator went rogue.

• Banks across the country shuttered a record 2,927 branches in 2021, according to an S&P Global Market Intelligence report published Thursday.
• The net number of branch closures jumped 38% last year, from 2,126 in 2020 — itself a previous record.
• Wells Fargo, with 267, reported more net closures than any other bank in the U.S., followed by U.S. Bank at 257.

US banks close 2,927 branches in 2021, a 38% jump

Wells Fargo, with 267, reported more net closures than any other bank in the U.S., followed by U.S. Bank at 257. However, Huntington Bank saw 16% brick-and-mortar shrinkage, the most for a bank its size, S&P Global found.

www.bankingdive.com

------------------------------------
How is that working for you?

 

[Penelope]

5 banks failed in 2016

List Of Failed Banks: 2009-2023 | Bankrate

The U.S. typically sees a few bank failures each year, but it's rare for years like 2022, 2021 and 2018 when there were none.

www.bankrate.com

 

[Penelope]

• SIVB
  0.00%
• BK
  +4.10%
• RF-PC
  +1.45%
• FHN-PE
  +15.78%
• CMA
  +11.51%
• +9

Ty Haqqi
Tue, March 14, 2023 at 10:47 AM EDT·9 min read


In this article:

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• SIVB
  0.00%
  
  
  
• BK
  +4.10%
  
  
  
• RF-PC
  +1.45%
  
  
  
• FHN-PE
  +15.78%
  
  
  
• CMA
  +11.51%
  
  
  
• DFS
  +4.58%
  
  
  
• ZIONP
  +4.00%
  
  
  
• FITBO
  +8.94%
  
  
  
• NTRS
  +3.50%
  
  
  
• HBAN
  +5.71%
  
  
  
• STT
  +4.20%
  
  
  
• KEY
  +14.37%
  
  
  
• CFG
  +4.73%
  
  
  
• MTB-PH
  +0.98%
  
  

In this article, we will be taking a look at the 25 largest banks in the U.S. by asset size. To skip our detailed analysis, you can go directly to see the 10 largest banks in the U.S. by asset size.

25 Largest Banks in the US by Asset Size

In this article, we will be taking a look at the 25 largest banks in the U.S. by asset size. To skip our detailed analysis, you can go directly to see the 10 largest banks in the U.S. by asset size. The collapse of SVB Financial Group (NASDAQ:SIVB) has sent shockwaves not just through the […]

finance.yahoo.com

 

[g5000]

So what in this bill caused all this to happen?

Actually it was the EGRRPCA which allowed the collapse of SVB to happen.

Economic Growth, Regulatory Relief, and Consumer Protection Act - Wikipedia

en.wikipedia.org

https://www.fdic.gov/news/board-matters/2019/2019-10-15-notice-sum-b-mem.pdf

Section 401 of EGRRCPA amended section 165(1)(2)by: (1)raising the minimum asset threshold for stress tests from $10 billion to $250 billion;(2)replacing the requirement for "annual"stress tests with a requirement for "periodic" stress tests; and (3)eliminating the "adverse"scenario requirement. The EGRRCPA amendments become effective on November 24, 2019 (eighteen months after enactment).


In 2021, SVB increased their holdings of bonds by 159.5 percent, loading themselves up with astronomical interest rate risk.

A stress test would have revealed just how far out in the wind they were.