March 2016 - RIP Dodd Frank

TheMReport — News and strategies for the evolving mortgage marketplace.

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14 | TH E M R EP O RT By Ryan Schuette COVER STORY A s the nation gears up for a presidential election, speculation about how a new administration will impact the mortgage and financial sectors is fair game for political pundits, industry com - mentators, and the public at large. Perhaps the biggest impact November's election could have on the mort- gage industry is determining the future of the Dodd-Frank Wall Street Reform and Consumer Protection Act. As it was in 2010, Dodd-Frank remains at the center of a political storm. Every G.O.P. candidate in the field has vowed to repeal or dismantle important parts of the law, includ - ing agencies like the Consumer Financial Protection Bureau (CFPB). Meanwhile, divisions solidified in the Democratic pri- maries: Those in Clinton's camp want to preserve or improve on what they see as the law's gains, while Sanders' rank-and- file want to break up too-big-to-fail banks. With all the major candidates weighing in on Dodd-Frank, it's entirely possible everything about Dodd-Frank—what's on paper, any new rules, and anything in the works—could see the axe in 2017. The Nail in The Coffin Will November's election results put Dodd-Frank to rest?

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