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Wednesday, August 28, 2013

Stumpf: Policymakers Should Review Impact of Dodd-Frank Act

Wells Fargo’s John Stumpf in an American Banker BankThink op-ed:
We need well-managed, well-regulated banks of all sizes—large and small—to meet our nation's diverse financial needs, and we need public policies that don't unintentionally damage the very financial ecosystem they should keep healthy.

We all can agree there is no such thing as free regulation even if it's done well and poorly thought-out regulation has a direct cost to banks, customers and the economy overall.

A common-sense approach for policymakers would be to review the impact of the Dodd-Frank Act on our nation's smaller banks and assess the benefits of a scaled-down Basel III framework that better fits their operational realities. At the same time, a review should take place to simplify and rationalize the pending regulations on large banks to make sure unnecessary costs and needless complexity are not being introduced into the system that would slow down economic recovery in unexpected ways.
Read the full article by following the link in our twitter account, @ABARegPolicy, displayed on the right sidebar of the Tracker homepage.

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