WASHINGTON — The investigation into the dearth of new bank charter applications has turned into a proxy battle over the Dodd-Frank Act, with Republicans and many industry players blaming the 2010 law for the scarcity of de novos.

That was clear during a House Oversight Committee hearing on the issue Wednesday, where many pointed fingers at the regulatory environment for chilling demand for new banks.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.