Will Bankers Drown in a Sea of Paper?

By Cleland, George | ABA Banking Journal, June 1989 | Go to article overview

Will Bankers Drown in a Sea of Paper?


Cleland, George, ABA Banking Journal


Will bankers drown in a sea of paper?

There's a good possibility the ancient Greeks got it backwards. They thought Order was created out of Chaos.

But, as thousands of banks across the U.S. have learned in recent years, order can easily create its own form of chaos--especially when the "order" involves regulation. Paper, paper everywhere. Bankers have been buried in a chaos of forms, reports, and other compliance mechanisms designed to satisfy a growing federal demand for "order." Worse, there is no indication this will end anytime soon.

That's why ABA's board singled out the compliance burden as a priority. ABA formed a regulatory burden task force and commissioned consultant Carter Golembe to look at the history of bank regulation; accumulate data from banker sources; document the regulatory burden on banks; and develop specific recommendations. Golembe's report is expected this fall.

Much staff work has already been done. The study is becoming a sizeable volume itself, a litany of regulations, both big and little, that banks must comply with.

There are basic approvals for such things as adding certain services; opening, moving, or closing a branch; and acquiring another bank or selling one.

There are quarterly call reports, which come with instructions the size of a novel. An average bank's call report runs to about 20 pages itself--some are much larger. The call report forms are often revised, so the routine is never just routine.

Then there are the examination guidelines from the FDIC, Office of the Comptroller of the Currency, and Federal Reserve Board. These state that a bank's actual operations should be compared against written board-approved policies. These policies must cover such things as loan policy, budget, capital, internal controls, codes of ethics, board proceedings, and asset/liability and funds management. There's more. Federal housing concerns bring their own regulatory joys. The Community Reinvestment Act requires that institutions demonstrate that they serve low- and moderate-income groups' credit needs, especially in housing. Each board of directors must adopt a CRA policy, of course. Then there is the Fair Housing Act, to prevent discrimination; the Mortgage Disclosure Act of 1975; the Home Equity Consumer Protection Act; even special rules pertaining to housing loans in flood zones. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • A full archive of books and articles related to this one
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Will Bankers Drown in a Sea of Paper?
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

    Already a member? Log in now.