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News & Press: WIPP Legislative Updates

Is Dodd- Frank Working? House Committee Takes A Look

Monday, June 13, 2016  
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Is Dodd- Frank Working?  House Committee Takes A Look

 

The Dodd-Frank banking law was intended to apply only to major banks, but community banks have been feeling the weight of increased regulations. Last week’s House Committee hearing explored how rules and protocols intended only for a handful of large banks have trickled down to much smaller institutions.

 

Many small banks struggle with devoting resources for increased compliance required under Dodd-Frank. One witness, president of a small community bank, noted that as compliance costs go up, his bank can no longer afford to issue small, less profitable loans. This means that small loans – loans that would go to entrepreneurs – are no longer profitable and, according to the witness, capital that should be going to entrepreneurs is stuck paying for compliance costs.

 

WIPP’s Access to Capital platform, Breaking the Bank, advocates for an end to a “one-size-fits-all” approach to regulation. This would free up capital for women entrepreneurs by eliminating unnecessary burdens on small banks. 

 


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