Written by Steve Van Beek
Given the prospect of changes to mortgage regulation in 2012 that we blogged about yesterday, (and perhaps changes to checking accounts), it was interesting to see Neil Wolin, Deputy Treasury Secretary, claim that Dodd-Frank is not hurting small banks.
Politico.com covered the story here.
I'd like to add my two cents: Just because other institutions are hurt more doesn't mean that small banks and credit unions are not hurt when new regulations are written and existing regulations are constantly changed and tweaked.
In other words, if a large bank needs to read and comply with 12 new regulations - that doesn't alleviate the burden placed on a smaller institution of having to read, interpret and comply with 5 new regulations.
Over the next couple of weeks, we will have a few guest bloggers from other divisions at NAFCU that we hope you find useful and informative.
I'm off to Ohio tonight for a weekend that I'll remember for the rest of my life. Thank you again for the all the wedding wishes!