Small Banks Slam 'One Size Fits All' Dodd-Frank Regs
By Daniel Wilson (September 16, 2014, 5:47 PM EDT) -- Community bank and credit union representatives urged Senate lawmakers Tuesday to help ease their regulatory burdens, saying they've been unfairly caught up in "one size fits all" Dodd-Frank Act rules designed to curb the risky practices of larger institutions.
Speaking a hearing before the Senate Banking, Housing and Urban Affairs Committee, the representatives — variously from the American Bankers Association, the Independent Community Bankers of America and two credit union industry groups — said that the collective effect of dozens of new regulations under Dodd-Frank have unfairly impacted smaller financial institutions, despite the financial reform law's intent to help curb risky...
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