Three Years Later: Dodd-Frank and Those too Small to Succeed

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Much can happen in three years. For example, the earth travels around the sun three times — roughly 17.7 billion miles — in that span. That is an impressive feat. Somewhat less impressive: your average hamster reaches old age in that same interval. Even less impressive: three years after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), we are still waiting for the full implementation of rules required under the Act.

Yes, it has been three years since enactment. So, what have we learned? For community banks the answer is, unfortunately, not much. We do know that new regulations are coming. We also know that with this new regulation there is likely to be additional expense. But how much? That’s still a bit of an open question.

Originally published in Issues & Answers - July/August 2013.

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