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Thursday, July 19, 2012

Dodd-Frank 2-Year Anniversary Report

The Financial Services Roundtable released a report “Dodd-Frank 2-Year Anniversary Report: State of the Financial Services Industry.” The report focuses on fortress balance sheets, the issue of too big to fail, the cumulative weight of new rules, and the economic benefits of big banks. The report suggests at this time “re-examining the provisions and combination of provisions that needlessly restrict economic growth, limit credit, result in higher costs and reduced access to services for consumers, and make U.S. companies less competitive.”
In the next 12 months, hundreds of additional Dodd-Frank rules are scheduled to be finalized.

Financial services companies (and the economy) have yet to face some of the most expensive costs coming from the Dodd-Frank Act. Many of the expected provisions carry significant economic consequences for the industry, consumers, and the economy.
Read the report.

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