Pincus noted that the law had forced his bank to double the size of its compliance and accounting departments.
I’m not going to comment or editorialize on the legislation. But other than adding people to work for you, it’s not helping job creation.Chessen added that many community banks are feeling the added pressure.
The pendulum has swung, and there’s so much pressure now at community banks to raise more capital, comply with these rules that it makes it very difficult to go about daily business.
Watch the segment.