Community Banks Closing the Political Divide?
The Treasury Department released a report recently on banking regulations which appears to have struck a chord with Democrats and Republicans alike.
Every politician has a community bank in their constituency and the community banks were never the problem that triggered the 2008 financial crisis. The one size fits all banking regulations as a response to the financial crisis in 2008 have become even more burdensome and are no longer performing their designed function. The bipartisan support for a tiered regulatory system, coupled with the large volume of bipartisan bills advancing in Washington continue to point in the direction of alleviating the regulatory burden from community institutions. Only time will tell, but for your community institution, the signs are all positive.
For more information, please read “Political foes agree: Small banks pounded by Dodd-Frank” written by Scott Keitkamp, Opinion Contributor to the Hill and the President and CEO of Value Bank Texas.
For additional information or assistance please contact James Dowling, MBA, and Assurance Manager in the Financial Institutions Industry Group.
This commentary represents the unique views of James Dowling, and is not representative of Marcum LLP, its partners or its employees.