Roll back: Repealing the worst of Dodd-FrankNH Union Leader, Mar 10, 2018
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In an attempt to punish big banks, Dodd-Frank instead sped the consolidation of the banking industry. Consumers suffered as small banks increased fees and cut services to cover compliance costs. The burdensome regulations were one reason among many why the recovery from the Great Recession was so slow.
Last week, the U.S. Senate reached a bipartisan agreement to roll back some of the worst parts of Dodd-Frank, lifting regulations on banks with between $50 billion and $100 billion in assets, and lightening federal oversight of banks with up to $250 billion in assets.
Senate Republicans were joined by 17 Democrats, including New Hampshire Sens. Jeanne Shaheen and Maggie Hassan. Shaheen voted for Dodd-Frank in 2010, but even sponsor Rep. Barney Frank acknowledges the bill went too far.
Sen. Elizabeth Warren, the populist poseur from Massachusetts, blasted her fellow Democrats for doing "the bidding of the big banks."
Shaheen and Hassan deserve praise for rejecting the populist complaints of their party's left wing. For once, the Senate did its job without the two parties retreating to their partisan corners to lob talking points at each other.
http://www.unionleader.com/article/20180311/OPINION01/180319967/1004/opinion
