Not enough people can finance cars and homes. So Donny is gonna help

[Angry ginger]

9 hours ago, Snoslinger said:

Well ginger got his now...

Baller ben will help you up onto the turnip truck 

Has no real effect on my business.  Sbyl. 

 

[washedupmxer]

9 hours ago, Jimmy Snacks said:

Holy fuck....he's almost as stupid as Drip Dick. 

Rent free in your bulbus head you miserable loser!!!

Keep saying it and kicking your heels bitch,it might come true.

Edited May 23, 2018 by washedupmxer

[DriftBusta]

10 hours ago, Angry ginger said:

This change makes sense. By inflicting the same rules on smaller banks as those huge banks they cost the consumer money because let's face it the banks all pass these costs through. These are banks the government won't step in to save if they make bad choices as they are not critical.

/thread.

[Mileage Psycho]

12 hours ago, spin_dry said:

https://amp.cnn.com/cnn/2018/05/22/politics/house-banking-bill-vote-dodd-frank/index.html

The deja vu is uncanny, we've been down this road before folks.

I'm all for community lending, but I'm not sure there are many who would consider a bank with $250 billion in assets a community bank.

Quote

"For far too long, far too many people in our country have struggled to make ends meet," Rep. Jeb Hensarling, chairman of the House Financial Services Committee, said in a statement. "They've struggled to buy a car; they've struggled to buy a home; they've struggled for their version of the American dream. But today, that changes."

Hensarling wanted to add a number of measures to the Senate bill. One would ease disclosure requirements for banks on mortgage loans. Another would allow more companies to file confidential initial public offerings without divulging all their sensitive financial information right away.

Among the fixes proposed was raising the threshold at which banks are considered "too big to fail." That trigger, now set at $50 billion in assets, will rise to $250 billion.

That would leave only a dozen US banks -- including JPMorgan Chase, Bank of America and Wells Fargo -- facing the strictest regulations by the Federal Reserve.

But two dozen midsize regional banks will no longer have to hold as much capital to cover losses on their balance sheets. They will not be required to have plans in place to be safely dismantled if they failed. And they will have to take the Fed's bank health test only periodically, not once a year.

https://amp.cnn.com/cnn/2018/05/22/politics/house-banking-bill-vote-dodd-frank/index.html

 

Quote

 

And so what are the barriers that we can deal with here in Washington? Well, probably the single barrier to first-time homeownership is high down payments. People take a look at the down payment, they say that's too high, I'm not buying. They may have the desire to buy, but they don't have the wherewithal to handle the down payment. We can deal with that. And so I've asked Congress to fully fund an American Dream down payment fund which will help a low-income family to qualify to buy, to buy. (Applause.)

We believe when this fund is fully funded and properly administered, which it will be under the Bush administration, that over 40,000 families a year -- 40,000 families a year -- will be able to realize the dream we want them to be able to realize, and that's owning their own home. (Applause.)

The second barrier to ownership is the lack of affordable housing. There are neighborhoods in America where you just can't find a house that's affordable to purchase, and we need to deal with that problem. The best way to do so, I think, is to set up a single family affordable housing tax credit to the tune of $2.4 billion over the next five years to encourage affordable single family housing in inner-city America. (Applause.)

The third problem is the fact that the rules are too complex. People get discouraged by the fine print on the contracts. They take a look and say, well, I'm not so sure I want to sign this. There's too many words. (Laughter.) There's too many pitfalls. So one of the things that the Secretary is going to do is he's going to simplify the closing documents and all the documents that have to deal with homeownership.

 

https://archives.hud.gov/remarks/martinez/speeches/presremarks.cfm

 

 

 

[Anler]

7 minutes ago, Mileage Psycho said:

The deja vu is uncanny, we've been down this road before folks.

I'm all for community lending, but I'm not sure there are many who would consider a bank with $250 billion in assets a community bank.

 

 

 

So now smaller banks do the bundling? abandoning sound  financial fundamentals is never a good idea. 

Edited May 23, 2018 by Nazipigdog

[Mileage Psycho]

10 hours ago, Ez ryder said:

you band wagon people realize this bill only defects small reganal banks and crefit unions and big banks are excluded from the loosing regulations right?

you people read the part that said most banking regulators agree with this that small credit unions should not have to have as large of a capital reserve for loans they make as the massive banks. you all saw that part right? 

or just more fun to jump on the band wagon as it rolls by .

the big banks still have to live under the old rules and can not just start buying these loans up with out backing like before .

 

So $250 billion in assets is a small bank? Maybe you didn't read that part.

3 hours ago, Zambroski said:

Dodd-Frank is garbage.  Adios!

Just a little more paperwork, accountability, guarantees, etc.

[f7ben]

32 minutes ago, Nazipigdog said:

So now smaller banks do the bundling? abandoning sound  financial fundamentals is never a good idea. 

The smaller bank has to retain the asset if lent under these new standards. No bundling and selling them

[Anler]

11 minutes ago, f7ben said:

The smaller bank has to retain the asset if lent under these new standards. No bundling and selling them

Do they get insurance policies on the loan too?

[Ez ryder]

7 hours ago, Nazipigdog said:

So now smaller banks do the bundling? abandoning sound  financial fundamentals is never a good idea. 

that is not at all true . 

[Jimmy Snacks]

9 hours ago, washedupmxer said:

Rent free in your bulbus head you miserable loser!!!

Keep saying it and kicking your heels bitch,it might come true.

Bulbous you fucking dolt....I think the plate in your face has shifted. 

BTW no heel clicks needed.....you are one dumb motherfucker.

Edited May 23, 2018 by Jimmy Snacks

[motonoggin]

Probably going to lead to small banks being gobbled up by the big ones.

[Anler]

3 hours ago, motonoggin said:

Probably going to lead to small banks being gobbled up by the big ones.

There's room for all kinds of fuckery. I bet those fuckers are laundering money for drug cartels and this helps that too. 

[teamgreen02]

3 hours ago, motonoggin said:

Probably going to lead to small banks being gobbled up by the big ones.

Large banks have been buying smaller banks for decades.  The US is unique in that we have thousands of different banks, something most countries don't have. 

My mortgage and savings is with small banks, credit cards and checking with the big guys.

11 hours ago, Mileage Psycho said:

The deja vu is uncanny, we've been down this road before folks.

I'm all for community lending, but I'm not sure there are many who would consider a bank with $250 billion in assets a community bank.

 

 

 

The banks under $250B aren't the ones that screwed us last time.  Even US Bank at $462B didn't need a bailout.  It was the big guys that didn't have the assets to cover their losses and we deemed "too big to fail".

[Angry ginger]

12 hours ago, motonoggin said:

Probably going to lead to small banks being gobbled up by the big ones.

Maybe but not to create the next Mega bank as they want to stay under the threshold so it will prob be more regional banks the kinds that once got gobbled up and became too big to fail but now won't grow bigger.