Small banks were better off in pre-crisis reg regime: Fed’s Bullard.

An interview with Federal Reserve Bank of St. Louis president James Bullard on the onerous requirements for small U.S. banks following the financial crisis is presented. When asked on the need for lighter regulation, he replies that the high regulatory burden is unfair and may harm the community bank business model. Bullard states that their 9% of expenses compliance costs are much higher compared to larger banks. He notes that stress testing and Volcker Rule benefits are not clear to them.