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Wednesday, October 24, 2012

Kansas Lawmakers Express Basel III Concerns

The members of Kansas congressional delegation told the federal banking regulators that they fear the Basel III proposals’ increased capital requirements intended for larger, more complex banks will lessen the lending capacity of smaller institutions in communities across their state.
Loans commonly made in smaller [Kansas] communities … , such as balloon mortgage loans, will be adversely impacted by the proposed [Basel III] regulations. With many banks already experiencing greater compliance costs related to mortgage-lending regulations, many of our smaller lenders tell us that they will … get out of the mortgage-lending arena all together.
They added they are eager to maintain and appropriately improve the safety and soundness of the nation’s banking system.
We are concerned, however, that the current proposal will unnecessarily harm our state’s small lenders with undue burdens originally intended for international financial players.
Read the Kansas delegation’s letter.

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