Rep. Lankford: Small banks, Lending & Compliance

Rep. James Lankford (R-OK) asks whether regulations and compliance should be spared to smaller banks. Fed Chairman Ben Bernanke says smaller banks should be spared of regulations such as Dodd-Frank. Bernanke says the Fed has begun a process where instructions and guidance will be provided to smaller banks as to which parts of regulations they can "throw away without looking at it."

CNBC | February 2, 2012

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