The Dodd-Frank Act got play in the first presidential debate, with Mitt Romney specifying the the "systemically important" designation and decrying the lack of a final rule on the "qualified mortgage" definition as his major criticisms about the law.
"Romney moderated earlier calls to repeal the 2010 law, which placed a host of new requirements on banks in the wake of the financial crisis, instead saying he’d like to replace it," writes American Banker's Victoria Finkle.
A choice quote from the evening worked the SIFI=TBTF position: "This is the biggest kiss that’s been given to New York banks I’ve ever seen," Romney said.
In Obama’s response the "lack of specifics may well have been one of the president's biggest missed opportunities of the debate," writes Finkle.
There are "are some parts of Dodd-Frank that make all the sense in the world," Romney said. What parts of Dodd-Frank does he like? "Transparency" and "leverage limits."
For the full piece see "Romney Presses Attack on Obama Over 'Too Big to Fail,' QM Rule" (may require subscription).