Magazine : Archives : 2nd Quarter 2016

Regulatory Entanglement

The increase in the number of regulations to which U.S. banks must comply can actually be measured in linear feet. Twenty-five years ago, if you had taken all of the laws and regulations that applied to banks and stacked them on the floor, they would have stood about a foot high. Today, that same pile would be about three feet high—a testament to how busy Congress and the federal regulators have been since the early 1990s. “I would say that banking is more heavily regulated than any other industry,” says David Freeman Jr., a partner and head of the financial...