Strange as it may seem, community banks and the U.S. operations of foreign banks are often treated similarly; their interests are usually legislative and regulatory afterthoughts. Stated differently, the uncertainty that arises with new legislation or regulation forces these banks to mark time for years because their special interests are ignored. If the legislators and regulators had given first consideration to what was not broken in the resultant financial crisis over the last five years without the need for a sweeping Dodd-Frank law, traditional foreign and community bank lending might have better supported the struggling economy when it most needed it.
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