BRENTWOOD, TENN., March 21, 2017 – Most bank executives and board members don’t want Congress and President Trump to totally dismantle the Dodd-Frank Act, according to Bank Director’s 2017 Risk Practices Survey, sponsored by FIS. Just 20 percent believe the law should be repealed in its entirety, a reflection of the significant investment made by the industry to comply with its requirements.
However, 82 percent of the 167 respondents—independent directors and senior executives of U.S. banks above $500 million in assets—expect to see regulatory relief this year. Many favor changes to the Consumer Financial Protection Bureau and other specific areas of Dodd-Frank, including the Durbin amendment, which restricts debit interchange fees at banks with $10 billion or more in assets, Home Mortgage Disclosure Act rules and qualified mortgage rules.
The survey was conducted in December 2016 and January 2017—following the presidential election but preceding the inauguration.
Other key findings include:
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Since 1991, Bank Director has served as a leading information resource for the directors and officers of financial institutions. Through its print and digital editions of Bank Director magazine, executive-level research, annual conferences and its website, BankDirector.com, Bank Director reaches the leaders of the institutions that comprise America’s banking industry. Bank Director is headquartered in Brentwood, Tennessee.
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, consulting, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 55,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index. FIS is ranked # 1 in Chartis RiskTech 100®. For more information about FIS, visit www.fisglobal.com.
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