With more regulations, banks offer fewer products and services

Chief compliance officers say regulatory burdens have forced their banks to reduce products and services, even home mortgage loans. A survey by the American Bankers Association found 46.3 percent of the compliance officers said their banks had cut offerings for loan accounts, deposit accounts or for other services. That’s up from 21.9 percent who reported dropping a product or service due to regulatory burdens in 2009. Almost 46 percent said their banks had decided not to launch a new offering…
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