The Dodd-Frank Act: Can Banks Survive the Cost and Complexity of Compliance?

The passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) and the ongoing promulgation of related regulations have created high anxiety in the banking industry. Some suggest that the increased burden associated with the new regulations could push banks to sell themsleves to other financial institutions. While for some banks this may be true, this article lays out how banks can achieve prudent implementation without causing the complexity and costs of compliance to become an impediment to remaining independent.