Dodd-Frank + Durbin

Dodd-Frank + Durbin

Postby ucanit » Thu Feb 09, 2012 3:01 pm

ABA testifies on Dodd-Frank impact on small banks

Another article is here.

snippets: WASHINGTON — The American Bankers Association stated today that the regulatory burdens imposed on community banks by implementation of the Dodd-Frank Act is oppressive and that most small banks do not have the resources necessary to easily handle the flood of new rules. The cumulative burden of hundreds of new or revised regulations may be a weight too great for many smaller banks to bear. Kelly warned that the cumulative effect could be to drive banking industry consolidation.

This article is a year old but I heard the topic discussed today at a meeting of community bankers and credit union managers. The fears of over regulation, excessive compliance expenses and government's micro-management of loan approvals is causing many to sell out to the big banks or consolidate to create bigger banks. Wasn't that part of the problem to begin with, "too big to fail?"
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