Bob Corker Quotes

I'll be very clear about this: I'm not a fan of getting rid of Dodd-Frank.

The reality is that what we did in 2010 with the Dodd-Frank wasn't enough.

There are elements of Dodd-Frank that clearly need to be curtailed.

Dodd-Frank is an important statute, but often when the government believes it's handling a particularly important issue, there can be a tendency to overreach.

If you ever had the misfortune of reading all 2,000 pages of Dodd-Frank, which I have done - and it almost killed me - basically, all it does is create a list of all the things it wants the Fed to fix.

We could repeal Dodd-Frank. I think that would be a big help.

We need to repeal Dodd-Frank act. It is eviscerating small businesses and small banks.

Dodd-Frank is 2,000 pages long. It covers thousands of rules, regulations, interpretations and things like that.

Regulation is necessary, particularly in a sector, like the banking sector, which exposes countries and people to a risk.

The Federal Reserve has always recognized the importance of allowing markets to work, and government oversight of financial firms will never be fully effective without the aid of strong market discipline.

Under the Dodd-Frank law, the SEC got the lion's share of the rules to write, more than 100 rules, and we have done an extraordinary amount of that. Eighty percent have been either proposed or adopted. So, a lot, a lot accomplished but of course, more to do.

A contingent bailout policy - implicit or explicit - must be coupled with some regulation of what banks can and cannot do. For example, a ban on lending to uncreditworthy customers might well make sense.

Creating a regulatory system that reflects the modern-day realities of financial markets is not as difficult as it may appear.

This country, of course, needs fundamental reform of our financial regulatory system, as I, and many other financial institution executives, have publicly advocated for a considerable period.

There's a lot of talk coming from Citigroup about how Dodd-Frank isn't perfect. Let me say this to anyone who is listening at Citi: I agree with you. Dodd-Frank isn't perfect. It should have broken you into pieces.

You can look at what I did in the Senate. I did introduce legislation to rein in compensation. I looked at ways that the shareholders would have more control over what was going on in that arena. And specifically said to Wall Street, that what they were doing in the mortgage market was bringing our country down.

Republicans, including [Senate Minority Leader] McConnell, repeatedly attacked the Dodd-Frank Bill for provisions it did not contain and kept doing so when their errors were pointed out.

The basic architecture of Dodd-Frank makes sense. At the same time, as a number of regulators and legislators have observed, the act was a complex effort that produced thousands of pages of rules.

I believe that we have to have a new regulatory regime for our financial system.

If anything, one would think we learn from Brexit is we need a strong, stable banking system, not one to repeal the consumer bureau and repeal Dodd-Frank and give Wall Street what it wants. That would be the worst kind of response.

One of the things I do in banking committees is put pressure on them, and one of the other things I do is through my website, through outside pressure, and I ask people to come and help us join that fight where we can get people outside to keep putting the pressure on the Senate to make sure there are no compromises and weakening of Dodd-Frank.

I liked the so-called Volcker Rule. I would have separated investment banking and commercial, deposit banking, as we did under the Glass-Steagal Act. I would have brought back Glass-Steagal.

I have and will continue to oppose any legislation that would undermine the important consumer protections provided under Dodd-Frank.

The too-big-to-fail reform project is massive in scope. In my view, it holds real promise. But the project will take years to complete. Success is not assured.

Some of my colleagues are unwilling to vote for any Dodd-Frank reforms, partly out of the political fear that any reforms will be seen as reducing regulations on the financial sector.