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Thursday, August 2, 2012

Johnson: Big-Bank Breakup Would Threaten All

Breaking up large banks would endanger the entire banking industry, Art Johnson, chairman and CEO of United Bank of Michigan, a $457 million-asset community bank in Grand Rapids, wrote in the American Banker newspaper’s BankThink blog yesterday.
Large, medium and small banks are connected in ways that are mutually beneficial and essential to the overall economy.
He noted that community banks have been dealt a substantial blow by thousands of pages of new rules under the Dodd-Frank Act, even though the law was aimed at large institutions.

American Banker Editor at Large Barb Rehm agreed with Johnson’s assessment. “Mr. Johnson’s prior role with ABA gave him insights on the way Washington works (and doesn’t work), and I think he’s right -- any move to break up the big banks would have unintended, trickle-down effects on smaller banks,” she wrote in a comment below Johnson’s blog post. “Also [I] agree with his broader point that a divided industry is a defeated one.”

Read Johnson’s blog post.

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