Odessa Technologies Publishes Second Dodd-Frank Act White Paper
Philadelphia, PA June 26, 2012 - Odessa Technologies, Inc., the developer of the LeaseWave® suite of products, a fully integrated end-to-end lease and loan management solution, has published the second in a series of White Papers about the Dodd-Frank Act.
The Dodd-Frank Act, named after its legislative sponsors in the two Houses of Congress, Senator Christopher Dodd and Representative Barney Frank, intends to improve accountability and transparency in the financial system by making some immediate changes in the law, while in other areas mandating that relevant Federal agencies formulate further changes under their pre-existing statutory powers. “Asset Finance & The Dodd-Frank Act: PART 2: Main Banking Capital Rules” details how certain aspects of Dodd-Frank affect bank solvency rules and may potentially impact bank owned leasing companies, as well as bank lease funding activities.
”New Dodd-Frank rules could impact the strategies of bank-owned leasing companies and the ability of non-bank financial company (NBFC’s) to get funding from banks. Certain sections of Dodd-Frank even allow for conditions under which the largest NBFC’s could fall under the supervision of the Federal Reserve”, said Madhu Natarajan, Chief Executive Officer at Odessa. “Through this publication, we aimed to distill the 2,300 +/- pages of the Dodd-Frank Act into a more user-friendly format, while preserving the legislation’s essentials. While our immediate goal was to provide value to our existing clients that are directly impacted, by making the publication generally available, we wanted to also contribute to our industry as a whole.”