Quote by Rick Perry
I mean, Dodd-Frank is strangling small community banks. It doesn't make any difference what the interest rate is. They're not - they're not going to loan the money because they can't make any money for one thing plus the cost of compliance.
Summary
This quote highlights the adverse effects of the Dodd-Frank financial regulation on small community banks. It argues that the regulation is stifling these banks because it imposes costly compliance requirements that hinder their ability to lend money and be profitable. Therefore, the interest rates become irrelevant as these banks struggle to find a balance between meeting compliance costs and making loans that can generate revenue.
Topics
Money
By Rick Perry
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