The Dodd-Frank Act and Its Impact on Small Financial Institutions

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Summary:

The Dodd-Frank Act's impact on small financial institutions is often overlooked, despite its significant effects. The regulatory burden and increased compliance requirements have been found to be particularly burdensome for smaller banks and credit unions. While these entities are less likely to engage in risky behavior, they bear a disproportionate share of compliance costs. The "one-size-fits-all"" regulatory approach may hinder the growth and competitiveness of small financial institutions