Kenneth Ehrlich quoted in “Banks Gird For Regulator Switch Over”Print PDF
Kenneth Ehrlich, co-chair of the firm’s Banking and Financial Services practice group, was quoted in “Banks Gird For Regulator Switch Over” in Banker & Tradesman on December 6th. The article notes that 19 Massachusetts banks are preparing for a big change in 2011, when the Dodd-Frank Act puts them in the hand of a new regulator.
Ken explains how thrift banks, currently under regulation by the Office of Thrift Supervision (OTS), will be affected once under the new control of the Office of the Comptroller of the Currency (OCC), specifically regarding current perks and regulations. Ken states “…perks are being eliminated under Dodd-Frank, while the restrictions aren’t going anywhere.”