A government plan to require bank employees who sell securities to obtain brokerage licenses has prompted an outcry from officials at small institutions.

In comment letters due to the three banking agencies by Feb. 28, community bank and trade group officials said the plan could force small institutions out of the securities business.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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