Title

“Focus Banking & Finance” piece looks at the Dodd-Frank Wall Street Reform and

Authors

Matt Dodge

Source

Mainebiz

Date

4-1-2013

Pages

1, 22-25

Abstract

“Focus Banking & Finance” piece looks at the Dodd-Frank Wall Street Reform and Consumer Protection Act and what its additional regulatory requirements will mean for the financial services industry. The industry is already seeing a rise in compliance costs, with small banks and credit unions especially impacted. Although many Maine banking professionals feel that the burden is disproportionate to their role in the situation that brought about the new regulations, they are instituting compliance training and turning to outside consultants for assistance in order to be more cost-effective. With a timeline on some major regulatory changes that the banking industry has seen over the past forty years.

Subjects

Banks and banking, Credit unions, Dodd-Frank Wall Street Reform and Consumer Protection Act

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