The Dodd-Frank Act

• Will all institutions be subject to greater assessment burdens?
• Which areas will the CFPB likely target first?
• Which new rules are coming down the pipe? How might they be enforced?

InfoSight can answer these questions and help you navigate through the changes resulting from The Dodd-Frank Act.

While much of the Act applies to only very large banks, there are many provisions that apply to community banks. For example, with the creation of a new consumer financial protection agency (CFPB), we can expect to see many new consumer protection regulations during the next few years.

The underlying purpose of the Dodd-Frank Act is to:

• Enhance consumer protections
• "De-risk" the financial system by constraining individual institutions' risk-taking activities and capturing a broader set of institutions in the regulatory net

Many of the new regulations will increase compliance costs for institutions or limit the fees they can charge. Community banks may find it more difficult than larger institutions to absorb the increased compliance costs and reduction in income.

There are many other provisions that affect community bankers. Find out which provisions and exemptions would alter the competitive playing field for your institution.

Contact us today to help you navigate through these changes.

Complementary Services
IT Audit / Compliance Assurance Program
IT Risk Assessment
Enterprise Risk Management

A copy of the Dodd-Frank Act can be obtained here.