PHILADELPHIA--(BUSINESS WIRE)--SolomonEdwardsGroup, LLC today announced the release of its new white paper, Dodd-Frank: Six Topics Banks Can’t Ignore. This new analysis examines the implications of the recent legislation so that management teams can prepare for the upcoming requirements.
Banks will need to adapt their business practices to comply with the stark reforms set forth for this year. “This legislation takes bold action to prevent another financial crisis,” noted Candace Caley, SolomonEdwardsGroup’s National Banking Practice leader. “Banks must begin to assess the impact of the Act and develop strategies to adapt in this altered world.”
The topics discussed in Dodd-Frank: 6 Topics Banks Can’t Ignore include the following.
- A New Regulatory Framework
- Significant Changes to Capital Requirements
- FDIC Insurance Assessment Reforms
- Enhanced Consumer Protection Measures
- Improvements to Corporate Governance
- Interstate Branching
“Implementation of the tenets of Dodd-Frank will undoubtedly develop increased competition for deposits. Deposit competition and the continued regulatory oversight of fee related income will continue to put significant pressure on bank profits,” added Caley. “Banks should begin to review their current business model and assess its viability against the projected impacts of the Act.”
“Although the fallout from Dodd-Frank may take years to fully play itself out, there are a number of very tangible immediate issues impacting banks of all sizes that should not be ignored.”
To read or download a copy of Dodd-Frank: 6 Topics Banks Can’t Ignore, please visit http://www.solomonedwards.com/dodd_frank_whitepaper_download.shtml.
About SolomonEdwardsGroup Banking and Financial Services Practice
The SEG Banking and Financial Services Practice specializes in serving commercial and mortgage banks, investment firms and government sponsored financial services entities. Our strength lies in our ability to tactically assist clients with special projects, business process optimization initiatives and regulatory compliance requirements. Founded in Philadelphia in 1999, we operate offices in seven major cities throughout the country and maintain a global network of partners to serve multinational clients. We are proud of the proven track record of success that our team of experienced banking and financial services professionals has achieved in meeting our clients’ tactical and strategic objectives.