ABA is sending to members of Congress a new infographic documenting the enormous cumulative weight of new and existing regulations on community banks. The graphic shows that Call Report items have more than tripled since 1990, that the majority of small banks have a sole compliance officer to wade through several-hundred-page rules and that reg burden has helped drive community bank consolidation.
The avalanche of regulatory activities in recent years has included mortgage rules, Basel III, liquidity proposals, the Durbin Amendment, municipal adviser registration, derivatives and remittances. The graphic also shows the cost to consumers of heavy burdens, with 58% of banks canceling or holding off on a new product because of increased regulation and 44% limiting current products or services in order to comply.
View the infographic.