Faster than the turkey population at Thanksgiving, community banks are disappearing at a rapid rate.

In the 13 years following the passage of the Gramm-Leach-Bliley Act, the number of community banks dropped 24%, from 8,263 to 6,279, according to the Mercatus Center. Perhaps only regulators and legislators can explain why well-managed community banks were suddenly relegated to the endangered species list while their propped-up, ethically-challenged, too-big-to-fail competitors were allowed to thrive.  

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access