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Abstract: 

Although enacted in response to the financial crisis caused primarily by the residential mortgage-related banking practices of large banks and other systemically important financial institutions, numerous Dodd-Frank provisions nonetheless apply to smaller financial institutions. The Government Accountability Office recently issued a report on how the Dodd-Frank Act and the regulations issued thereunder has affected smaller institutions, including community banks and credit unions. This column summarizes the GAO findings.

Keywords: Dodd-Frank Act, prudential regulators, compliance burden, mortgage loans, remittance fees

Affiliations:  1: Journal of Taxation & Regulation of Financial Institutions.