{"id":1875627,"date":"2023-03-13T13:28:58","date_gmt":"2023-03-13T17:28:58","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/svb-collapse-director-of-failed-bank-was-author-of-dodd-frank-reform-law\/"},"modified":"2023-03-13T13:29:53","modified_gmt":"2023-03-13T17:29:53","slug":"svb-collapse-director-of-failed-bank-was-author-of-dodd-frank-reform-law","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/svb-collapse-director-of-failed-bank-was-author-of-dodd-frank-reform-law\/","title":{"rendered":"SVB collapse: Director of failed bank was author of Dodd-Frank reform law"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsvb-collapse-director-of-failed-bank-was-author-of-dodd-frank-reform-law%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1875627&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"RichTextArticleBody-body\">\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\">\n<div id=\"Brid_78719654\" class=\"brid\" style=\"width:16;height:9\">                                                                                                         <\/div>\n<p>                var _bp=_bp||[]; _bp.push({ &#8220;div&#8221;: &#8220;Brid_78719654&#8221;, &#8220;obj&#8221;: {&#8220;id&#8221;:&#8221;27789&#8243;,&#8221;width&#8221;:&#8221;16&#8243;,&#8221;height&#8221;:&#8221;9&#8243;,&#8221;video&#8221;:&#8221;1261640&#8243;} });                              <\/p><\/div>\n<\/p><\/div>\n<p><span class=\"ArticlePage-articleBody-firstLetter\">F<\/span>ormer Rep. <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/barney-frank\" target=\"_blank\" rel=\"noopener\">Barney Frank<\/a> (D-MA), who famously co-authored the 2010 Dodd-Frank monetary reform regulation in response to the 2008 <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/finance\" target=\"_blank\" rel=\"noopener\">monetary<\/a> disaster, served as a director of Signature Financial institution, which failed Sunday. <\/p>\n<p>The previous Democratic chairman of the <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/house-of-representatives\" target=\"_blank\" rel=\"noopener\">Home<\/a> Monetary Providers Committee in the course of the monetary disaster helped draft the regulatory laws, which aimed to forestall financial institution failures and bailouts resembling people who occurred in 2008. <\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/svb-collapse-heres-everything-you-need-to-know\" target=\"_blank\" rel=\"noopener\">SVB COLLAPSE: HERE&#8217;S EVERYTHING YOU NEED TO KNOW<\/a><\/b> <\/p>\n<p>The Dodd-Frank monetary reform regulation imposed new guidelines on banks together with creating new regulatory entities throughout the authorities for overseeing monetary establishments. <\/p>\n<p>Regardless of the financial institution he served on the board of being seized by regulators, Frank defended the 2010 laws as stopping widespread points available in the market. <\/p>\n<p>&#8220;The vindication of the bill is that nobody is talking about anything like 2008,\u201d Frank told <i>Bloomberg<\/i>. \u201cIf the bill hadn\u2019t been passed, we\u2019d be seeing a lot more damage these days. We got a lot of the vulnerability out of the system.\u201d <\/p>\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\">\n<figure class=\"Figure mb-1 mb-sm-3 mb-md-1 article-lead-photo data_invisible\" data-align=\"center\" data-image-size=\"fixed\">\n<div class=\"Determine-container\"><figcaption class=\"Determine-caption\">                 Former Rep. Barney Frank, D-Mass., sits onstage before House Speaker Nancy Pelosi of Calif., signs the H.R. 8404, the Respect For Marriage Act, on Capitol Hill in Washington, Thursday, Dec. 8, 2022.                 <\/figcaption><div class=\"Determine-credit\">                 (AP Photo\/Andrew Harnik)                <\/div>\n<\/p><\/div>\n<\/figure><\/div>\n<\/p><\/div>\n<p>Congress reformed the Dodd-Frank law in 2018 by removing regulations from smaller banks and for larger regional banks. The reforms moved the threshold at which banks are subject to certain additional rules from $50 billion to $250 billion. <\/p>\n<p>The collapse of New York-based Signature Bank came only two days after California-based <a class=\"Hyperlink\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/silicon-valley-bank\" target=\"_blank\" rel=\"noopener\">Silicon Valley Bank<\/a> was shut down by state regulators. Both banks were large regional banks in the size range that were exempted from some rules in the 2018 law. <\/p>\n<p>Many on the Left are blaming the 2018 reforms on the current bank failures, but Frank spoke favorably of the changes at the time and said they are not to blame for current troubles with<\/p>\n<\/div>\n<p><\/p>\n<hr>\n<p>&#8220;Learn Extra From <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/svb-director-author-of-dodd-frank-reform-law\">SVB collapse: Director of failed financial institution was writer of Dodd-Frank reform regulation<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former Rep. Barney Frank (D-MA), who famously co-authored the 2010 Dodd-Frank financial reform law in response to the 2008 financial crisis, served as a director of Signature Bank, which failed Sunday. The former Democratic chairman of the House Financial Services Committee during the financial crisis helped draft the regulatory legislation, which aimed to prevent bank<\/p>\n","protected":false},"author":1,"featured_media":1897068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[12730,5373,7385,6350,21484,5886,6547,4353,21356],"class_list":["post-1875627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-author","tag-bank","tag-collapse","tag-director","tag-dodd-frank","tag-failed","tag-law","tag-reform","tag-svb"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1875627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1875627"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1875627\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1897068"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1875627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1875627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1875627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}