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Banking is one of the most highly-regulated industries in the United States, requiring masses of compliance paperwork, staff and cost to satisfy. What agencies are involved, how is a bank impacted and what is the cost of maintaining this level of control?
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Banking is one of the most highly-regulated industries in the United States, requiring masses of compliance paperwork, staff and cost to satisfy. What agencies are involved, how is a bank impacted and what is the cost of maintaining this level of control? Regulation in the Banking Business and Its Effects Banks and bank-like financial institutions operating within the United States and within most other countries must deal with extensive regulation in the form of rules and laws enforced by federal and state agencies. These regulations cover and monitor all areas of their operations, service offerings, credit quality and quantity, capital position, and the manner in which they grow and expand their facilities. This regulatory climate is primarily designed to protect the public interest, to encourage savings and investment by establishing an environment of economic soundness and stability, and to provide the public adequate financial information and credit without discrimination. Additionally, the actions of...
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