There is no doubt that banks are subject to more regulation almost every day. For example, take the Dodd-Frank Wall Street Reform and Consumer Protection Act. Signed into law in July 2010, it requires that agencies complete almost 400 new rule-makings. As of this writing only a little more than half of those have been finalized. So, while there have been at least 200 new sets of regulations since July 2010, banks can expect almost 200 more in the future, just arising from Dodd-Frank.
Bank regulations serve many purposes, including ensuring the safety and soundness of banks and the financial system itself. Among other things, those regulations require banks to maintain certain capital levels, monitor the quality of their loans and avoid certain investments. Also, there are regulations addressing bank branch activity, additional lines of business such as securities or insurance and financial reporting.
Originally Published in The Journal Record, May 2014.
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