Let's see Dodd-Frank go away, but...

[Dont Taz Me Bro]

1. Let's require banks to offer truly free checking accounts to people with an income less than $25,000/year, without all the bells and whistles of course, so no check writing, no overdrafts allowed (just declined debit cards), waived bank ATM (not ATM owner) fees, and none of the other "prestigious" benefits like discounts on loans. Banks of course will still make money from debit interchange fees from the #4 proposal, so there is still some profit here.

2. Place a cap on the amount of available credit one with less than $25,000/year can have at $2,000 between all credit card limits to avoid debt problems, no matter how good one's credit score is, and $3,000 for those who make a household income of less than $40,000 a year.

3. Require a maximum APR of 17.99% on loans including lines of credit and credit cards at big banks and community banks, like at credit unions. Place a housing APR max of 12.99% for first time mortgage borrowers and a 5.9% APR max for student loan re-consolidations.

4. Strip away the Durbin amendment. Let banks/networks charge whatever they want. If merchants feel like they're paying too high of an interchange fee, they'll stop taking cards or the networks will lower their fee, so in other words, the free market.

5. Force debit card swipes/inserts/taps to go over debit network and only credit card swipes/inserts/taps to go over VISA/MC/DISC/AMEX network.

6. Cap number of overdraft fees at 1 per day, with a maximum of $35, so yes, M&Shit bank will have to lower their fee by $3.50 to accommodate this.

7. Make wire transfers free and get rid of the automatic clearing house. Now America will have real technology that the rest of the civilized world has.

8.Because of regulations on #'s 2 and 3, loosen up lending underwriting and give out more loans to small businesses. When you're not sucking every penny out of your client, more will be willing to borrow from you.

9. Require a bank to offer at least one fixed rate credit card, variable is annoying.

Or how about the bank decides what the best business practice is for itself.

Now there's an idea........

Yes so we can end up in another 2008 crisis. Great idea.

The only reason we'd end up in another 2008 crisis is because people like you decided to bail out millinaires with our money instead of letting the dominoes fall where they may.

 

[Slashsnake]

1. Let's require banks to offer truly free checking accounts to people with an income less than $25,000/year, without all the bells and whistles of course, so no check writing, no overdrafts allowed (just declined debit cards), waived bank ATM (not ATM owner) fees, and none of the other "prestigious" benefits like discounts on loans. Banks of course will still make money from debit interchange fees from the #4 proposal, so there is still some profit here.

2. Place a cap on the amount of available credit one with less than $25,000/year can have at $2,000 between all credit card limits to avoid debt problems, no matter how good one's credit score is, and $3,000 for those who make a household income of less than $40,000 a year.

3. Require a maximum APR of 17.99% on loans including lines of credit and credit cards at big banks and community banks, like at credit unions. Place a housing APR max of 12.99% for first time mortgage borrowers and a 5.9% APR max for student loan re-consolidations.

4. Strip away the Durbin amendment. Let banks/networks charge whatever they want. If merchants feel like they're paying too high of an interchange fee, they'll stop taking cards or the networks will lower their fee, so in other words, the free market.

5. Force debit card swipes/inserts/taps to go over debit network and only credit card swipes/inserts/taps to go over VISA/MC/DISC/AMEX network.

6. Cap number of overdraft fees at 1 per day, with a maximum of $35, so yes, M&Shit bank will have to lower their fee by $3.50 to accommodate this.

7. Make wire transfers free and get rid of the automatic clearing house. Now America will have real technology that the rest of the civilized world has.

8.Because of regulations on #'s 2 and 3, loosen up lending underwriting and give out more loans to small businesses. When you're not sucking every penny out of your client, more will be willing to borrow from you.

9. Require a bank to offer at least one fixed rate credit card, variable is annoying.

Or how about the bank decides what the best business practice is for itself.

Now there's an idea........

Yes so we can end up in another 2008 crisis. Great idea.

The only reason we'd end up in another 2008 crisis is because people like you decided to bail out millinaires with our money instead of letting the dominoes fall where they may.

LOL. Assume much? I was in the 12th grade when the bailout happened. I paid very little tax dollars towards the bailout, if any, and to assume that the people actually decide on something like that is pretty ignorant. How many times do congressman ask the people about a decision before making one? Very rare. Just so you know I wasn't one to support a bailout, but at least the government was paid back with interest.

 

[kiwiman127]

So the Trumpsters were quick to jump on the bandwagon about Trump's friends couldn't get loan and it was because of Dodd-Frank.
But the real fact is, Trump is again full of shit.
Donald Trump’s Friends Seem to Be Borrowing a Lot For People Who Can’t Get Loans
On Friday, Trump started his promised roll back of Dodd-Frank, the banking reform that was passed in the wake of the financial crisis. Trump called the law a "disaster" and vowed to do "a big number" on financial regulations earlier this week. Trump also said Friday that he had first-hand evidence that Dodd-Frank was not working: His friends can't get loans.
“We expect to be cutting a lot out of Dodd-Frank, because frankly I have so many people, friends of mine, that have nice businesses and they can’t borrow money,” Trump said in announcing the review of Dodd-Frank on Friday. “They just can’t get any money because the banks just won’t let them borrow because of the rules and regulations in Dodd-Frank.”
<snip>
In the past, Trump has said that Dodd-Frank is killing small business lending. But there isn't much evidence of that either. Commercial and industrial loans have been one of the fastest growing segments of lending in the past few years. At the end of Sept. 2016, the last the figure is available, the volume of C&I loans outstanding from U.S. banks had risen to $1.7 trillion, up $250 billion from two years before.
Trump may indeed have some friends who are having trouble getting loans right now. But that may say more about the company Trump keeps, and less about Dodd-Frank.
Trump Says His Friends Can't Get Loans Because of Dodd-Frank
Behold a very telling graph which was included in the article, which demonstrates another Trump lie.
The graph mirrors the trend of the record amount of loans banks are actually making.