The administration is releasing a report detailing possible regulatory reform that will ease overly restrictive regulations that are hindering banks and their customers.
This could free up more lending resources and reduce the obstacles between banks and customers, and give people more financial choice.
Hopefully it will address areas such as liquidity, capital requirements, and regulations pertaining to mortgages.
Consider these facts:
- Complicated rules for mortgage lending have driven Community Banks out of that market.
- Regulations have limited banks abilities to offer small personal loans driving many people to use riskier, off-market loans.
- Post-recession global rules are making the US financial system less resilient.
Congress is also working on a reform package that includes reasonable fixes for harmful financial rules.
Changes are needed; Community Bank regulations need to be reassessed. Alleviating complex compliance costs would free up money to lend and spur economic growth.
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