Page 25 - Advocacy Playbook

Customers’ dreams are stymied by overregulation

Unfortunately, many deserving businesses and individuals are being denied the loans they
need, because increased regulations are forcing banks to say no.

Bankers’ attention is being drawn away from their customers and redirected
toward ensuring compliance, as the volume and complexity of
regulation becomes ever heavier – and they’re not done making rules yet!

The Dodd-Frank Act has left banks struggling to maintain access to credit for customers who
need it most: small businesses, low income individuals, the newly employed, retirees and oth-
ers.

78%

The percentage of
banks that have said
they will or may need
to change their
nature, mix and
volume of
mortgage products in
response to
regulatory changes.

The Dodd-Frank Act towers over its predecessors: the Federal
Reserve At of 1913, the Glass –Stiegel Act, the Interstate Banking
Efficiency Act, Sarbanes Oxley and Gramm-Leach Bliley.

The Ability to Pay and Qualified Mortgage rules effective in January 2014 hurt customers who need
credit most:

 Low income
 Small business
 Rural residents
 Retirees
 Newly employed

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