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2 days agoLost me at “climate change religion”.
Look here, GOP. Deregulation does not have a great track record, and is as challenging to implement as the regulations you’re trying to skirt!
Potential risks and challenges
- Increased Risk of Misconduct: Reduced regulatory oversight may create additional opportunities for financial misconduct, requiring enhanced internal controls.
- Compliance Complexity: Deregulation often leads to a more complex regulatory environment as institutions navigate evolving federal frameworks alongside increasingly divergent state obligations.
- Product Innovation Risks: Periods of regulatory transition may encourage the development of products or services with limited regulatory guidance, potentially increasing future compliance exposure.
- Uneven Oversight: Changes to regulatory structures, particularly regarding non-bank financial services providers, may create competitive imbalances and necessitate enhanced oversight of institutional partnerships.
- Reputational Risk: Compliance failures in any regulatory environment can significantly damage an institution’s reputation and erode customer trust.
Haha, pussies!