After he had received more than $1 million as a Signature board member, the architect of the Dodd-Frank banking regulations minimized the risks of weakening rules he helped enact post-2008 financial crisis.
—including Sens. Mark Warner , Joe Manchin , and Jon Tester —were integral to its passage.
Frank said Crapo's Economic Growth, Regulatory Relief, and Consumer Protection Act"would not help the biggest Wall Street banks and denied it would increase the risks of another financial crisis,"when then-President Donald Trump signed the bill into law in May 2018."Some Democrats leaned heavily on those words as they pushed back against the plan's liberal critics."
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Dodd-Frank Act’s Barney Frank Was on Failed Signature Bank’s BoardRetired congressman Barney Frank, who helped pass strict financial regulations in the wake of the 2008 crash, was on the board of directors of New York’s Signature Bank, which was shut down over the weekend.
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SVB collapse: Director of failed bank was author of Dodd-Frank reform lawFormer 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.
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SVB collapse: Progressives blame 2018 rollback of Dodd-Frank for bank failuresProgressive lawmakers are blaming the collapse of two U.S. banks over the weekend on a 2018 bill that rolled back regulations put in place after the 2008 financial crisis.
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Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects 'Anti-Crypto' Message Behind Signature Bank Failure – Bitcoin News'I think part of what happened was that regulators wanted to send a very strong anti crypto message,' Frank explained during his interview.
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Barney Frank Sat on Board for Collapsed Signature BankFormer Rep. Barney Frank (D-MA), author of the 2010 Dodd-Frank bill, sat on the board for Signature Bank which collapsed in the wake of the Silicon Valley Bank (SVB) implosion.
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Barney Frank under fire over role on board of doomed Signature BankFrank griped that regulators’ move to shut down Signature was overly aggressive — claiming that the bank could have survived.
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