Small Banks Get a Freer Hand
The JOBS Act signed into law this month includes a provision that raises the number of shareholders at which small banks must register with the SEC to 2,000. The JOBS Act aims to increase jobs by reducing regulations on companies. I am all for this provision because I like anytime America can increase competition and being part of family that own's a small business I am always rooting for the small businesses.
4 comments:
This is great news for getting our financial industry back on its feet and getting the ball rolling again, because the 2008 financial crisis caused the financial sector to be a lot more heavily regulated (for good reason), but now that it has been five years, it's time to cut a little slack, and by doing it through small banks is the right move, as competition will be increasing and jobs will increase. We must be wary of too much deregulation, however, because excessive deregulation contributed in part to the financial crisis of 2008.
Any ways we can look to add jobs I am all in favor of. This can help benefit our economy and begin pulling us even more out of the recession. Interesting Act I am excited to see how it develops.
What are the potential losses of this act? Increasing jobs is good, but what is the cost in this situation?
This is good news for for small banks and also for students such as ouselves, studying in the finacial field. Invreasing smaller banks mean more job opportunity for us.
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