ABA President and CEO Frank Keating appeared on “Bloomberg Surveillance” to discuss the fifth anniversary of Dodd-Frank and make the case for strategic reforms to the overall law.
“Even Chris Dodd and Barney Frank agree there were pieces there that could be reformed and amended,” Keating said, making note of opportunities to tweak mortgage rules to help banks better meet their communities’ credit needs. “Men and women of good will need to sit down and work together, and hopefully Sen. Shelby’s bill this fall will be a start.”
Keating also pointed out that since Dodd-Frank and the imposition of Basel III capital requirements, “the banks have never been healthier.” He cautioned, however, that holding too much capital ceases to be productive and has a negative effect on lending.
Watch the interview.