The GAO’s conclusions run counter to “reports by other agencies,” so bankers are likely to react to its report with skepticism or disinterest.
Bankers are questioning a government report downplaying the impact regulation have had on the industry. The Government Accountability Office recently released a report on community banks that concluded regulatory burden has had a “generally modest effect” on the declining number of banks, industry profitability and the volume of small business lending since the financial crisis. The report …