Wednesday, November 30, 2016
Author: David Schwartz J.D. CPA
Since passage of the Dodd-Frank Act in 2010, the financial industry has been dealing with an almost unstoppable wave of regulatory reforms. Most, if not all have been designed to prevent a repetition of the problems that followed the failure of AIG and Lehman Brothers in 2008. Now, after the U.S. election of a conservative majority in two (and soon to be all three) branches of the U.S. federal government, many bankers feel that a huge regulatory weight is about to be lifted. Some bankers expect a reversal of the drive toward reforms, perhaps even repeal of Dodd-Frank. That’s not going to happen, at least not without a lot of work.