Will Revising Dodd-Frank Send the Markets Soaring?
Post# of 2218
(Total Views: 226)
Posted On: 04/23/2017 1:29:08 PM
Will Revising Dodd-Frank Send the Markets Soaring? 7 YRS. ????? 53,496 PAGES ?????
It has been nearly seven years since Dodd-Frank was signed into law,
but some of the rules still haven’t been finalized and implemented.
Whatever your view about the necessity for the regulations and the need for placing a tighter belt around Wall Street,
there is something wildly inefficient about taking seven years to implement rules.
The confusion and complexity of the entire process has arguably been
more detrimental to banks and
financial institutions than the rules themselves.
Consider this fact as relayed from the Banking Compliance Index:
since January 2013,
banks and credit unions alone have dealt with 1207 new rules spanning
53,486 pages in the Federal Register. Read that again:
53,486 pages of rules! Now imagine trying to run your business,
but then having a government agency hand you a 50,000-page rule book.
“Frustrating” would not be an adequate way to describe the difficulty of doing business. It’s beyond that.
It has been nearly seven years since Dodd-Frank was signed into law,
but some of the rules still haven’t been finalized and implemented.
Whatever your view about the necessity for the regulations and the need for placing a tighter belt around Wall Street,
there is something wildly inefficient about taking seven years to implement rules.
The confusion and complexity of the entire process has arguably been
more detrimental to banks and
financial institutions than the rules themselves.
Consider this fact as relayed from the Banking Compliance Index:
since January 2013,
banks and credit unions alone have dealt with 1207 new rules spanning
53,486 pages in the Federal Register. Read that again:
53,486 pages of rules! Now imagine trying to run your business,
but then having a government agency hand you a 50,000-page rule book.
“Frustrating” would not be an adequate way to describe the difficulty of doing business. It’s beyond that.
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