Repeal and Breakup
When President Trump speaks, we listen. Or at least we will hear about it on the news, online or through our networks.
The lightning rod that is our new President once again spoke on de-regulation and breaking up the “bigger banks” to a group of community bankers on Monday, May 1, 2017. Why is this important to your community bank? Trump indicated a long-term plan to peel back regulations included within the Dodd-Frank bill that have become burdensome to community banks across the nation. President Trump previously made remarks that his administration is looking into separating consumer lending and investment banking as a way to break up the bigger banks. In the end, it appears that the new administration wants to revive your community bank, but Democrats counter that the proposed regulation cuts could lead a financial crisis similar to 2008. Stay tuned.
For additional information or assistance please contact James Dowling, MBA, and Assurance Manager in the Financial Institutions Industry Group.
