On top of that, regulation hasn’t exactly got any simpler since the financial crisis. It has been significantly revised and augmented to include new requirements, expanded and stated more precisely.
So in its effort to cover every single risk in the complex world of banking, the regulation, too, had to become more complex – and that is still taking a very heavy toll on smaller institutions; too much so, if you ask me. For small institutions, especially, the work this entails is disproportionately time-consuming and costly.