Bank Executive Survey: The Return of Pessimism
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The vast majority of bank executives are not confident that financial reform will be effective in detecting the broad risks to the financial system and preventing or reducing the threat of future taxpayer-funded bailout, according to Grant Thornton LLP’s 17th Bank Executive Survey, conducted in conjunction with Bank Director magazine.
When asked about the recent Dodd-Frank legislation, most bankers said that the provision that would impact their bank the most was the creation of consumer protection agency (73%). Bankers also were concerned that interchange fees paid by merchants and retailers to banks that issue debit cards would be set by the Federal Reserve in an amount that is “reasonable and proportional” (71%).