IS THERE ANYONE, THAT DOESN'T FEEL DODD-FRANK IS A BURDEN AND INTRUSIVE?

“Is there ANYONE, that Doesn’t Feel Dodd-Frank is a burden and Intrusive?”

 

The article below indicates that an online tracking resource has been set up to find out what burden Dodd-Frank is causing the public. So I went online to find where I can express the burdens that Dodd-Frank has caused me. I consider myself somewhat savvy when it comes to finding information, well I guess not, no such luck, but will keep looking.

 

I recently wrote a blog about this topic and stated that this bill should be repealed and listed a number of reasons why. I received a bunch of comments in support of this opinion, which is always great. However there where a number of comments saying that I should get over it, that the bill will never be repealed and that I should just incorporate the cost into my business or just pass it along to my client. HELLO, that is just the point.

 

Dodd-Frank was sold to the House and Senate, as in the best interest of the public, just so they could be charged more money for services.

 

Now, let’s look at the bright side. The government is hiring more people, to be more intrusive in our lives. It takes a lot of people to manage and supervise this behemoth bill.

 

Tell me what you think.

 

House Lawmakers Launch Dodd-Frank Burden Tracker

By: Ryan Schuette

Lawmakers seated on the House Financial Services Committee recently unveiled a new online resource for members of the public to track “burdens” created by the Dodd-Frank Act.

 

The so-called Dodd-Frank Burden Tracker includes a spreadsheet with rules by agency, page length, date of proposal, and more.

The committee – comprised by conservative Republicans – billed the tracker as a means to transparency for some 185

of 400 rules, which currently take up more than 5,000 pages, according to information from a statement.

Lawmakers laid claim to estimates that Dodd-Frank will obligate private-sector businesses to spend close to 25 million hours every year to comply with the first 185 rules.

“This online resource will help the public better understand how the cumulative weight of these new rules – layered upon existing outdated, unnecessary and duplicative red tape – hurts small businesses and financial institutions,” committee chairman Rep. Spencer Bachus (R-Alabama) said in a statement.

“While the promised benefits of Dodd-Frank are still illusory, the costs are beginning to become crystal clear,” Rep. Randy Neugebauer (R-Texas) added.

With a sweep by Tea Party-affiliated conservatives in 2010, the House Financial Services Committee remains on the offensive when it comes to much of Dodd-Frank.

On Wednesday the committee cleared a bill for House vote that would repeal bailout fund requirements under Dodd-Frank and tether the Consumer Financial Protection Bureau to congressional appropriations.

image: jscreationzs/freedigitalphoto.net

Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x16

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.