Three Years Later: Dodd Frank and Those Too Small to Succeed
Lane Powell Attorneys Brian DeFoe and Reuben Ortega co-authored an article in the July/August 2013 issue of Washington Bankers Association’s (“WBA”) Issues and Answers magazine titled “Three Years Later: Dodd Frank and Those Too Small to Succeed.” In the article, DeFoe and Ortega discussed the impacts that the Dodd-Frank Wall Street Reform and Consumer Protection Act will have on smaller banks, including the increased costs they will face resulting from new regulatory requirements.
Much can happen in three years. For example, the earth travels around the sun three times — roughly 17.7 billion miles — in that span. That is an impressive feat. Somewhat less impressive: your average hamster reaches old age in that same interval. Even less impressive: three years after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), we are still waiting for the full implementation of rules required under the act.