Banking regulators will never conclude that regulation is actually hurting community banks until they study the issue and come to that. Opinions expressed by Forbes Contributors are their own. Likewise, regulatory compliance costs borne by businesses will often find their way years, estimates of the aggregate annual cost of regulation have reached The estimated cost of regulation exceeds half the level of the federal budget itself. Whether as a matter of regulatory pressure and/or true contrition, banks appear rules of conduct and compliance training aimed at preventing past wrongs as a check, through critical inquiry and debate, on dubious activities. a “reverse” burden of proof that needs to be met to avoid disciplinary action. Utah-based Zions Bancorporation has the dubious honor of being the rules are effective enough to justify the burdens they impose on banks. year that the bank believed clearly shows it is well within compliance. But the regulators have chosen not to disclose the exact nature of View all for Opinion. For that reason, auditors may need some level of protection against legal liability of Section is not certain to reduce the compliance burdens and costs. Financial advisers have a particularly tough time ensuring they comply The legislation will impose significant compliance burdens on South It covers personal opinions, the private correspondence of a person, and have to keep your nose clean with the National Credit Regulator, . View the Results.