The Dodd-Frank Law

Let me go on the record that I am against my little corner of the Dodd Frank law. How they changed the law with respect to writing loans and pricing mortgages. It has made pricing a loan much more difficult and I do not see any benefits to the customer. This legislation basically causes us to charge too little on a small loan and too much on a big loan.

Recently I am seeing banks starting to charge for debit fees and they are chaulking it up to recent changes and the Dodd Frank Law. I suspect that other sections of this legislation have a lot to be desired as well.

I am building this page to put together the facts for others to see. I will start with a PDF attachment of the actual bill itself.

Dodd-Frank Bill in its Entirety.pdf

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I have never been one to believe that our elected officials should have any kind of tenure in office. These two guys were in office during the years of Alan Greenspan and free market economy and were very much a part of it. Now they are singing to a different choir with this over-reaching bill. In 2012 the topic of repealing this legislation is a hot topic in the campaigns.

Here is the full Wiki-pedia Bio on Chris Dodd- Democrat from Conneticut

Christopher John "Chris" Dodd (born May 27, 1944) is an American lawyer, lobbyist, and Democratic Party politician who served as a United States Senator from Connecticut for a thirty-year period ending with the 111th United States Congress.

Dodd is a Connecticut native and a graduate of Georgetown Preparatory School in Bethesda, Maryland, and Providence College. His father, Thomas J. Dodd, was one of Connecticut's United States Senators from 1959-1971. Chris Dodd served in the Peace Corps for two years prior to entering law school at the University of Louisville, and during law school concurrently served in the United States Army Reserve.

Dodd returned to Connecticut, winning election in 1974 to the United States House of Representatives from Connecticut's 2nd congressional district and was reelected in 1976 and 1978. He was elected United States Senator in the elections of 1980, and was the longest-serving senator in Connecticut's history.

Dodd served as general chairman of the Democratic National Committee from 1995 to 1997. He served as Chairman of the Senate Banking Committee until his retirement.^[1] In 2006

Here is the Full Wikipedia Link on Barney Frank

Barney Frank (born March 31, 1940) is the U.S. Representative for Massachusetts's 4th congressional district (1981–present). A member of the Democratic Party, he is the former chairman of the House Financial Services Committee (2007–2011) and is considered the most prominent gay politician in the United States.^[2]^[3]

Born and raised in New Jersey, Frank graduated from Harvard College and Harvard Law School. He worked as a political aide before winning election to the Massachusetts House of Representatives in 1972. He was elected to the U.S. House of Representatives in 1980 with 52 percent of the vote. He has been re-elected ever since by wide margins. In 1987 he came out as gay, becoming the first member of Congress to do so voluntarily. From 2007 to 2011, Frank served as chairman of the House Financial Services Committee, where he remains the ranking Democrat.