The question we all want to know is if the Banking System is actually going to protect the Consumer! Well the word on the street is that this Financial System is TOO BIG for loss. This $15trillion system is 30% larger than the Pre Dodd-Frank having 47% of all assets being held in the top 5 banks in the United States with $44trillion in liabilities.
However, Banks are being held with greater responsibilities concerning requirements, 275 million consumers have lost their credit since Dodd Frank while the Banks made $40 MILLION IN PROFIT!
It seems the consumer is concerned with it’s safety. While we are being told that there are definitely more disclosures for the home seeker, we are also being told that banks are holding more capital. If truth be told, the cut backs in bond markets are telling us differently!
Reference: Jeff Cox Finance Editor CNBC