Although weak consumer demand is a major culprit, misdirected regulation has also created formidable obstacles. Half a decade into Dodd-Frank’s life, it’s clear that the rules aimed at large, complex institutions have fallen hard on banks with less than $10 billion in assets a group that accounts for about two-thirds of all small-business lending. These banks must sort their assets into myriad risk categories, a task that has helped double the length of the quarterly reports they file with supervisors. Stringent one-size-fits-all guidelines limit their ability to make mortgage loans a major source you could try this out of financing for entrepreneurs. Such requirements are entirely unnecessary for institutions that don’t get involved in derivatives, keep most of their loans on their own books, and run simple businesses that examiners understand well. Worse, the added red tape complicates precisely the kind of know-your-customer lending at which they excel. That’s why some banking experts including Thomas Hoenig, vice chairman of the Federal Deposit Insurance Corp. have proposed freeing them of the most onerous requirements as long as they maintain adequate levels of loss-absorbing capital.
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