Federal Reserve Chairman Ben Bernanke doesn't want community bankers to stay up at night worrying about Dodd-Frank, according to MarketWatch.
"I think it is important to emphasize that the vast majority of the provisions of the Dodd-Frank Act do not apply to community banks at all," said Bernanke.
OK, but won’t these requirements eventually become the standard for all? The Fed will "work to ensure that it does not happen," he says in response to this concern.
For the full piece see "Bernanke: Small banks mostly exempt from Dodd-Frank" (may require subscripiton).