PHILADELPHIA — While the glut of regulation and other changes have spurred bank consolidation over the past decade, particularly among smaller banks, an overlooked problem remains attracting and retaining young people in the industry, according to Patrick Harker, the president of the Federal Reserve Bank of Philadelphia.

In a sit-down interview with American Banker, Harker talked about the challenges facing community banks, including finding successors, the biggest threat to the financial system and the outlook for interest rate hikes through the year.

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