Reason.com discusses repealing burdensome aspects of the Dodd-Frank Act with John Berlau.
Beyond the question of bailouts, reviewing and reforming the Obama administration's major financial regulation is something that absolutely should be done, and by no means does it require scrapping all of the law. Regulations stemming from Dodd-Frank have made it harder for smaller banks to comply with federal regulations, and, as Trump pointed out Friday, has made it harder for start-ups and other businesses to borrow, stunting growth of new firms.
"The Dodd-Frank so-called financial reform law has been a huge burden to community banks, credit unions, and consumers," said John Berlau, senior fellow at the Competitive Enterprise Institute, a Washington-based free market think tank, in a statement to Reason. "Directing financial regulatory agencies to ease the burden of implementation within the bounds of the law is a sensible action."
Congress, Berlau added, must do the important work of repealing the most burdensome aspects of Dodd-Frank.
Read the full article at Reason.com.