Dodd-Frank how will it affect us?
Posted by heartlandrealty on January 25, 2012
From the Swanepoel trends Report:
This act is the most comprehensive financial regulatory reform measure taken since the great depression. Dodd-Frank gives new powers to the Federal Reserve to regulate the housing industry as part of its goal of modernizing bank regulation. The act will change the dynamics of some existing financial regulatory bodies while at the same time creating entirely new rule making bodies like the “Independent” Consumer Protection Bureau will continue beyond 2012, which continues to put a blanket of uncertainty over the industry and has community banks bracing for an onerous wave of new regulations that will tax their resources and could ultimately force them to merge with larger banks.
