This is how regulations favor big business…I wrote a whole article about this mechanism coming down in the budding pot industry (seriously, that was not intended!), but today’s Journal put it so simply, so elegantly, I had to share it.
Different Sector, Same Principle…
Trump Treasury Pick Could Boost Small Banks
Mnuchin’s background suggests he could be an ally to small and midsize lenders
CIT is among the midsize lenders that critics say are most burdened by Dodd-Frank. With $66 billion of total assets, it is above the law’s $50 billion threshold for annual stress testing by the Federal Reserve. But without the scale of megabanks like J.P. Morgan Chase, it is burdened with significantly increased regulatory costs.