Newt Gingrich says Dodd-Frank is destroying community banks

Dodd-Frank is the financial overhaul bill passed by Congress in 2010. Gingrich says it should be repealed, in part because of its impact on these local banks.

We asked the Gingrich campaign to give us the data that informed the former House speaker’s belief. Staffer R.C. Hammond replied "It was his observation. How do you source an opinion?"

But Gingrich didn't say, "I think community banks are being destroyed by Dodd-Frank. He asserted it as a fact.

The first thing to note is that one year after the passage of Dodd-Frank, community banks are actually healthier.

http://www.politifact.com/truth-o-meter ... community/

There are still a bunch of banks failing, but who knows if it is because of Dodd-Frank.

And with big banks adding fees to checking and debit cards, small banks and credit unions have picked up a lot of new customers. Once again, not likely related to Dodd-Frank.