Dodd-Frank Sparks Anxiety

By  |  July 5, 2012
 | 

Frank Sorrentino, chairman and CEO of North Jersey Community Bank, admitted to being afraid of Dodd-Frank in a recent interview with Marketplace for American Public Media.

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    “Of course we want to lend,” Sorrentino told Marketplace’s Shereen Marisol Meraji. “The issue is we may have our hands somewhat tied for fear of where these regulations are going.”

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    Rep. David Schweikert, R-Ariz., reported that banks in his district are “scared” by the law’s many rules, and even Robert Jackson, a co-author on one of Dodd-Frank’s early drafts, acknowledges that banks are “skeptical and nervous, and that’s very understandable.”

    Access the full story on Marketplace here.

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