tailieunhanh - COMMUNITY BANKS AND CREDIT UNIONS : Impact of the Dodd- Frank Act Depends Largely on Future Rule Makings

As highlighted in Moffitt (1998), many studies over the last ten years have examined the effects of programs like AFDC, Medicaid, and food stamps on family structure and children’s well-being. These studies have been motivated by a growing concern that public assistance programs con- tributed to the rise in out-of-wedlock childbearing and female headship, two behaviors associated with the incidence of poverty, especially among children. Until very recently, however, little attention has been paid to the effects of the EITC expansions on these behaviors. We discuss recent EITC-related studies of this issue. We also discuss recent studies of the EITC’s effect on consumption patterns of the poor. Because the. | United States Government Accountability Office GAO Report to Congressional Requesters September 2012 COMMUNITY BANKS AND CREDIT UNIONS Impact of the Dodd-Frank Act Depends Largely on Future Rule Makings GAO-12-881 September 2012 À GAO _ _ I Accountability Integrity Reliability Highlights Highlights of GAO-12-881 a report to congressional requesters Why GAO Did This Study The Dodd-Frank Act includes numerous reforms to strengthen oversight of financial services firms and consolidate certain consumer protection responsibilities within CFPB. To help minimize its regulatory burden on small institutions including community banks and credit unions the act exempts such institutions from several of its provisions. However the act also contains provisions that impose additional requirements on small institutions. Although no commonly accepted definition of a community bank exists the term often is associated with smaller banks. Historically community banks and credit unions have played an important role in providing credit to small businesses and other local customers. This report examines 1 the significant changes community banks and credit unions have undergone in the past decade and the factors that have contributed to such changes and 2 Dodd-Frank Act provisions that regulators industry associations and others expect to impact community banks and credit unions including their small business lending. GAO analyzed regulatory and other data on community banks and credit unions reviewed academic and other relevant studies and interviewed federal regulators community banks credit unions state regulatory and industry associations academics and others. CFPB federal banking regulators and the Securities and Exchange Commission provided technical comments on this report which GAO incorporated as appropriate. CFPB and the National Credit Union Administration generally agreed with the report. View GAO-12-881. For more information contact Lawrance Evans at 202 512-8678 or .