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In a rare show of bipartisanship, the U.S. House of Representatives voted 258-159 last week to approve a regulatory rollback of the 2010 Dodd-Frank law, a Democrat-led initiative narrowly adopted in the aftermath of the 2007-09 financial crisis and bank meltdown. The U.S. Senate passed the rollback measure earlier this year. It stops short of an outright repeal, but now only roughly 10 of the biggest banks in the United States (including Bank of America, Citigroup and TD Group) will continue to be subjected to stricter federal oversight — leaving thousands of banks with less than $250 billion in assets freed of what House Speaker Paul Ryan, R-Wisc., called “overregulation.” In another deregulation move, Treasury Secretary Steven Mnuchin has delivered a report to President Trump that recommends, among three dozen changes, relaxing the “Volcker Rule” that prohibits speculative trading in securities and derivatives by banks with access to federal deposit insurance or emergency loans from the Federal Reserve.
Are you concerned the deregulation of the banking industry puts the country at greater risk of another financial crisis and bank meltdown?

06/05/18 AT 07:24 AM
It is still to early to determine.

06/01/18 AT 07:37 AM
We have been down this path before.

05/30/18 AT 01:14 PM
Without question, it puts us at greater risk.

05/30/18 AT 01:07 PM
The Volcker Rule protects consumers from over-zealous bankers using bank assets outside their core business: the lending of money. We should never again have to fear that our banking system will turn on us due to the greed of its executives and the blind eye of U.S. regulators.

05/30/18 AT 01:07 PM
Banks cannot be trusted to self-regulate themselves. This has been proven time and time again.

05/30/18 AT 12:52 PM
The rollback of regulations is too soon as there hasn't been an event to test their efficacy; they were established in response to a crisis, until we know if the banks can withstand another crisis (absent another bailout) there's no valid reason to declare "overregulation."

05/30/18 AT 12:07 PM
Thomas Jefferson warned us that the power of banks is more dangerous than standing armies. History has certainly borne that out.