There's finally light at the end of the seven-year-long tunnel: The Senate is set to take action to right the Dodd-Frank Act's many wrongs. The proposed reform promises to benefit customers of Main Street financial institutions — regional banks, credit unions, and community banks — their communities and the economy as a whole.
Currently, these smaller institutions are burdened with unnecessary regulations and supervisory requirements that were intended to rein in large, risky, “too big to fail” banks. These regulatory burdens disproportionately impact smaller institutions, requiring them to shift resources away from consumers and businesses.
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