Trump Promises Community Bank Chiefs He Will Ease Regulations
Paramount to community financial institutions and their executive management teams is the time and cost burden associated with regulatory compliance. Will the new Presidential administration impact your community institution?
President Trump indicated a peel back of current regulations, including significant changes to the 2010 Dodd-Frank act. The President wants to ensure access to capital for consumers and small businesses and input from executives to assess what regulations were the most burdensome. Expectations began for significant deregulation when Trump was elected and this further hammers home the point. The cost and burden of regulatory compliance has gotten out of hand, especially for those institutions below the $1 billion threshold. What actually changes is yet to be seen, but the feeling from Trump’s meeting with executives on March 9, 2017, indicates a monumental shift towards the deregulation (i.e. for every one new regulation, three are removed) that the President promised while on the stump.
For more information, please read “Trump Promises Community Bank Chiefs He Will Ease Regulations” written by Michael B. Marois and Toluse Olorunnipa, Bloomberg Politics.
For additional information or assistance please contact James Dowling, MBA, and Assurance Manager in the Financial Institutions Industry Group.