Regulations protect the safety of the banking system, ensure adherence with consumer compliance law, and eliminate illicit activity.
While Bank of America might be able to absorb additional compliance costs, the additional rounds of paperwork and auditing could crush a community bank.
Heavy regulations may make the financial world safer, but inevitably the business of banking is adversely affected, and innovations suffers.
Compliance is a heavy burden for community banks, and sadly there is no end in sight.
Be informed, get involved, and shape the world through finance. Here's today's CFO roundup.
