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When a bank complains about the onerous, expensive or excessive costs associated with risk management and compliance, what they're really saying is: "If it was
by FireBeyond 4y ago
When a bank complains about the onerous, expensive or excessive costs associated with risk management and compliance, what they're really saying is:
"If it wasn't for that pesky government, we'd more than happily take more risks with -your- money!"
- ameister14 4y agoThat's both true and not true. So sure, banks want to take more risks with your money. But if you start to understand the web of banking regulations, you'll see that there are multiple different groups with oversight, each with different goals and different regulatory frameworks. It's extremely difficult to maintain compliance and the complexity is a problem for a number of reasons, including the fact that a lot of the regulations are legacies of a time before interstate banking.