One of President Donald Trump’s top goals is to repeal the Dodd-Frank financial regulations. He calls Dodd-Frank a “disaster.” Trump says many friends of his who have nice businesses can’t get loans because of Dodd-Frank.
There's no dispute about the fact that Dodd-Frank requires better lending standards after all the bad loans that pushed the nation toward the recession. But, banks are lending. The Federal Reserve finds commercial and industrial bank loans are at a record high.
Stateside spoke with Michigan Congressman Bill Huizenga, chair of the House Financial Services Subcommittee on Capital Markets. He voted to advance the Financial CHOICE Act, the legislation that would get rid of Dodd-Frank.
Stateside also spoke to University of Michigan professor Michael Barr about Dodd-Frank and the Financial CHOICE Act. He was one of the lead figures in drafting and negotiating the act. Click here to check out that conversation.