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Friday, August 10, 2012

S&P: Dodd-Frank Cost $34 Billion per Year

Standard & Poor's has a new report updating their original estimates on potential costs associated with the Dodd-Frank Act. Standard & Poor’s original estimates were published in November 2010.
We estimate that the DFA could reduce pretax earnings for the eight large, complex banks by a total of $22 billion to $34 billion annually--higher than our prior estimate of $19.5 billion to $26 billion. The bulk of the higher projected costs reflects our view that regulators could take a more strict interpretation of the Volcker Rule.
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