Special-Purpose Banks Aren't Waiting on Clinton in Quest for Reg Reform

American Banker
Friday, September 2, 2016

Emboldened by supportive comments from presidential hopeful Hillary Clinton, community development banks including BankPlusNeighborhood National Bank & Southern Bancorp are asking regulators for more leniency in areas such as disclosure fees and Bank Secrecy Act enforcement. The Community Development Bankers Association sent a letter in late June to Federal Reserve Board Chair Janet Yellen and other high-ranking Fed officials highlighting the trade group's concerns with elements of the Dodd-Frank Act, the Bank Secrecy Act and Basel III.