Free Market Friday: Dodd-Frank harming Oklahoma banks
September 16, 2016 - 8:56am CDT
The White House Council of Economic Advisors recently released a report claiming the Dodd-Frank financial services law of 2010 is not harming community banks.
Not so, say the bankers, the General Accountability Office, and the clear numbers.
When government policies help an industry, it is more likely to prosper; when they harm that industry, as Dodd-Frank clearly does, it withers. That is why there are fewer American banks in operation today than at any time since the Great Depression.
Many have only a vague concept of Dodd-Frank and what prompted Congress to pass it in 2010. So let’s review.