How Much Did Dodd-Frank Cost? Don’t Ask Banks
By Llewellyn Hinkes-Jones
Muddled is the word when it comes to trying to quantify the costs that banks have incurred complying with the Dodd-Frank Act. …Karen Petrou, managing partner with Federal Financial Analytics, told Bloomberg BNA that calculating Dodd-Frank compliance costs is almost impossible because there’s no simple way of separating out Dodd-Frank-related expenditures from other internal expenditures and that changes in total costs might be masked by other non-Dodd-Frank-related activity. For example, Petrou pointed out that banks started stress-testing in 2009, before Dodd-Frank rules on stress testing were enacted. “Dodd-Frank also caused banks to re-examine their financial models, but not all work on financial models was related to Dodd-Frank requirements,” she added.
https://www.bna.com/doddfrank-cost-dont-n57982083211/
