New Grouped Tag for Regulatory Laws
Community banks are an integral component of our nation’s economy and of the recovery effort for individuals, communities, and the nation alike. Community banks serve all ranges of populations and all types of businesses held in these areas, from rural to urban. It has becomes extremely cumbersome for these community banks to sustain under the immense burden of regulatory, tax, and paperwork requirements handed down in the Dodd-Frank Act. Community Banks simply do not have the manpower or monetary resources of bigger financial institutions, and these requirements weigh disproportionately heavy on community banks and their managements, pulling vital resources from attraction of more capital or provision of credit to customers.
Banking in the new regulatory environment is a topic making banking executives cringe with anticipatory anxiety. The financial crisis has ultimately led to the launch of the most encompassing and thorough revisions to banking, particularly concerning the regulatory aspect. The goals of these regulatory initiatives look to increase the stability of financial sectors, to provide security to investors and consumers and to ease the difficulty of dealing with failing banks.