Michael S. Barr: “I think that within the existing framework you can tailor and graduate the extent of regulatory compliance. I don't…”

I personally oppose it quite significantly. I think it is, I would use a technical term, 'dumb,' the way they describe their rule.

Community banks are exempt from this proposal. It only covers the top 37 banks in the country.

I don't agree with that assessment. I think that capital in general is facilitating strong lending to all communities, and having strong capital in the system is critical for doing that.

The bank did respond to regulator citations but those responses were insufficient.