Emily McCormick, vice president of research for Bank Director
This story delves into the following: Banks approaching $10 billion are weighing how to strategically cross the barrier. Early board discussions should start around the $6 billion mark. Enhanced requirements can be costly and burdensome, but aren't a reason to stall growth or sell the bank. If there’s one magic number in banking, it’s $10 billion. Several important regulatory requirements and restrictions kick in when banks cross that threshold—and all of them carry a lot of additional cost. The Dodd-Frank Act requires $10 billion-plus banks to beef up their enterprise risk management programs, including technology and talent. The Durbin amendment...
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Emily McCormick is the vice president of research for Bank Director, an information resource for directors and officers of financial companies.You can follow her on Twitter at twitter.com/ehmccormick or get connected on LinkedIn.