Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Wednesday, July 16, 2014

Blanton Testifies on Reg Burden & MSRs

Community banks are struggling under an unmanageable regulatory and legal burden, ABA Vice Chairman Dan Blanton told the House Financial Services Subcommittee on Financial Institutions and Consumer Credit. This burden includes the Justice Department’s Operation Choke Point, harsh capital treatment of mortgage servicing rights and the flood of new rules issued without an adequate cost-benefit analysis.

Blanton, the CEO of Georgia Bank and Trust, Augusta, Ga., noted:
Many actions taken by the banking agencies have hurt, not helped community banks. Managing this tsunami of regulation is a significant challenge for a bank of any size, but for the median-sized bank with only 40 employees, it is overwhelming.
Blanton expressed ABA’s support for several pending bills, including ones that would require a study of Basel III’s treatment of mortgage servicing assets, protect the confidentiality of information shared with state regulators and require cost-benefit analyses of new regulations.

Read the testimony.

No comments:

Post a Comment

Please read our comment policy before making a comment.