Considering the Intent of Financial Regulations
Regulations protect the safety of the banking system, ensure adherence with consumer compliance law, and eliminate illicit activity.
Community Banks Still Struggling with Compliance Costs
While Bank of America might be able to absorb additional compliance costs, the additional rounds of paperwork and auditing could crush a community bank.
Does Overregulation Lead to Underperformance?
Heavy regulations may make the financial world safer, but inevitably the business of banking is adversely affected, and innovations suffers.
The Cost of Compliance
Compliance is a heavy burden for community banks, and sadly there is no end in sight.