Dodd-Frank

Key proponents and critics of the 2010 financial reform law commemorated its anniversary by keeping the debate over its legacy front and center.

Rolling back unnecessarily burdensome and costly regulations is the only way to ensure credit unions’ survival. To that end, lawmakers should pass a bill that would give credit unions relief from annual privacy notice requirements and grant safe harbor qualified-mortgage status for certain loans held in their portfolios.

Five years after the Dodd-Frank Act was signed into law by President Obama, it remains as controversial as when it was enacted. While partisans may debate whether the changes are good or bad, there is no doubt they’ve had a sizable impact. Following are the biggest ways the system has changed.

On the five-year anniversary of Dodd-Frank, it's time to increase accountability and transparency at the CFPB. Congress should start by passing a bill that would overhaul the agency's organizational structure from a single-director model to a bipartisan, five-person commission appointed by each incoming president.

WASHINGTON — Treasury Secretary Jack Lew said Monday that the Obama administration will continue to defend the Dodd-Frank Act amid Republican efforts to water down the law, even as one of its namesakes suggested changes to it may be necessary.

Regulators and Congress can take several key steps to ease community banks' burden, from implementing tiered regulation to requiring less frequent call reports. And they should also remember that banks are innocent until proven guilty.

Final guidelines for dealing with failing institutions from the international Basel Committee include direct capital injections — something the Dodd-Frank Act tried to end in the U.S. — as a last-ditch option.

Wall Street's favored bank-resolution strategy would virtually guarantee future bailouts while imposing the costs on taxpayers and ordinary investors. At the very least, the damage can be mitigated with three key reforms.

Federal Reserve Board Chair Janet Yellen sounded at least open to the idea that new regulations have contributed to potential liquidity problems, but said more study is needed.

Sens. Elizabeth Warren and Sherrod Brown called for continued vigilance to counter efforts to undermine the 2010 law.