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.
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