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Subject:  Re: banks Date:  10/9/2012  11:19 AM
Author:  Hawkwin Number:  1822471 of 2089264

How is it hurting small banks?

Although the Dodd-Frank Wall Street Reform and Consumer Protection Act's (Dodd-Frank Act) reforms are directed primarily at large, complex U.S. financial institutions, regulators, industry officials, and others collectively identified provisions within 7 of the act's 16 titles that they expect to have positive and negative impacts on community banks and credit unions. Industry officials told us that it is difficult to know for sure which provisions will impact community banks and credit unions, because the outcome largely depends on how agencies implement certain provisions through their rules, and many of the rules implementing the act have not been finalized. Thus, regulators and industry officials also have noted that the full impact of the Dodd-Frank Act on these institutions is uncertain. Nonetheless, some regulators and industry officials expect some of the act's provisions to benefit community banks and credit unions and other provisions to impose additional requirements on community banks and credit unions that could affect them disproportionately relative to larger banks.


So let's summarize. We passed Dodd-Frank without fully understanding what impact it would have on small banks. Additionally, it was passed with many of the rules having not been finalized. Lastly, small banks could have disproportionate requirements. All this from the GAO.

Now for your second question.

His plan is to repeal and replace...but replace it with what?