A community banking trade group plans to lobby for less government regulation.
Bank customers who voice their praise or scorn on social media websites might be disappointed to learn that many major financial institutions don’t bother to monitor social media or don’t feel that these conversation are important. Indeed, banks and financial institutions are behind the curve in the use of social media as a means of
“The biggest risk to banking today has become regulatory risk.” That’s a comment from Wayne Abernathy, executive vice president of the American Bankers Association in Washington, D.C., on the group’s ABA Dodd-Frank Tracker blog. Indeed, Abernathy may be right about the increased risk as a “tsunami of new rules and restrictions,” to use his description,