As I said the issue with the bill is the carve out for the big banks that shouldn't be there. Plenty to target there, but this was likely going to be the case with the current congressional makeup.
The Banking Industry is getting DE-REGULATED with the assist of 16 Dem Senators
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AnonymityX1000
Veteran
When has a credit union representative or the people that bank there say 'we support deregulation, it will help us'? Fukkin' rarely to never. This is something lobbiests and politicians say with no proof. There are issues the electorate are begging for that don't get addressed but they do this instead?!
Yes, I am a member of a credit union.
Message from Truliant's President | Truliant Federal Credit Union
Dear White House: Here's What Community Banks and Credit Unions Are Saying About Dodd-Frank | House Committee on Financial Services
They pretty much all echo the same message that they were swept up in over regulation by dodd Frank and increases overhead that has caused many to shutter.
As far as what doesn't get addressed that the electorate is clamoring for --- blame republicans.
AnonymityX1000
Veteran
No they don't all echo the same message. There are thousands of credit unions and you have quotes from what 10? Like I said it is a rare sentiment expressed. My credit union has no such message on their website.
Yeah, the blame on Republicans is implicit. We are angry at Dems for going along. Pay attention.
States with small banks have plenty of people who support relaxing these regulations. Same for regional and community banks. WV didn't lead to the mortgage crisis.
I guess if you consider regions (bank), barclays and bb&t as "small" banks I guess.
How many "small" banks do you know have up to 250 billy in assets?
If they wanted to compliance burdens on "small" banks, then there are other, more precise ways.
I guess if you consider regions (bank), barclays and bb&t as "small" banks I guess.
How many "small" banks do you know have up to 250 billy in assets?
If they wanted to compliance burdens on "small" banks, then there are other, more precise ways.
I'm a member of two credit unions here in NC and they both echoed this sentiment. They wanted to be removed from Dodd frank. Please find examples where they are happy in that space.
Most of them don't think the largest banks should be unregulated, but most seem happy with the outcome since it allows them to grow.
You asked how could democrats vote for this bill. I gave you a simple and accurate answer: Because they have small banks in their states and districts that benefit them and their constituents.
If you want to play coy and pretend those benefits don't exist because big banks received carve-outs they should not have that's your prerogative, but it is wholly irrelevant to what you initially quoted me over.
That said, interest rates going up will probably help them. So it might be hard to differentiate with both of these happening at the same time. 
And based on the on the info provided on the legislation, you're whole argument is in the wind since the focus is removing regulatory requires for banks with >50 billi in assets;
Are your credit unions that large?
That's the issue with said democrats voting on this legislation, they always frame these things as aiding "small" banks/businesses. But based on the language of the bill, they're not the focus at all since most small community banks asset holdings are already below that threshold.
AnonymityX1000
Veteran
Some credit unions in their districts have voiced they want less regulation, while like 10 times more people in their districts want Wall St. to be more heavily regulated. That's real representative of them to vote for this then? No it's more like they are answering to their lobby and pretending they are doing this to help somebody.
But the largest of those banks are still being regulated. As I said, the 250 number is too high, but it's far from cataclysmic. Smaller banks deserve the space to operate.
1.)Do you think their should be a rollback on some of the Dodd Frank regulations?
2.)If so, then which parts of the senate roll back are you offended by?
3.)If not, then there's nothing to discuss here.
2.)If so, then which parts of the senate roll back are you offended by?
3.)If not, then there's nothing to discuss here.
So you're admitting that this bill isn't about "small" banks and credit unions at all, and is about removing regulatory standards for larger banks.
No, that is not what I said.So you're admitting that this bill isn't about "small" banks and credit unions at all, and is about removing regulatory standards for larger banks.