Jack Milligan, editor-at-large for Bank Director
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...
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Jack Milligan is editor-at-large of Bank Director, an information resource for directors and officers of financial companies. You can connect with Jack on LinkedIn or follow @BankDirectorEd on Twitter.