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The number of community banks has already been cut in half and it's no stretch to imagine that total being halved again in coming years. The question for policymakers is does this matter?
January 25
It seems Ms. Rehm, in her column "
Please visit with your small community bank compliance officers and ask how punitive present regulations now in force are negatively impacting the lending process in their banks. A good basic example would be to ask the how the recent regulatory requirements, and their convoluted related facets, constrict the process to originate a basic 1-4 family mortgage.
Then ask about the cost of compliance, associated with the punitive regulatory requirements, to avoid monetary penalties. And from the employees' perspective, ask about potential negative performance reviews for non-compliance with these onerous regulations.
All of this has only further stymied the lending process, which begs the bigger question: are the elected officials from the top down, who continue to advocate, promote and enact these bad laws, truly qualified to serve in their positions and appreciate the consequences of their actions?
George McCall
Vice Chairman and Senior Executive Vice President
First Sentinel Bank
Richlands, Va.