Well, the Financial Reform Bill has been signed by the President, but sadly it doesn't address one of the biggest problems of the recent financial crisis.  The Biggest Banks continue to get Bigger.

Helped by taxpayer capital, the largest institutions were able to purchase or takeover other institutions that had failed or were failing in the crisis.  A few banks are emerging from the disaster bigger than they were, by far, than when we went in.  The new regulations will increase oversight, but the rapid increase in size will help the financial giants withstand the cost.

Bank of America, J.P. Morgan Chase and Wells Fargo now have 33% of all U.S. deposits.  The Wall Street Journal states this is up from 21% in mid-2007.  They report that is the fastest shift of large deposits in history.  And all this on the tails of a crisis in which the government gave them money to keep them from failing?

I realize, being a Community Bank, I am biased to my views on the subject, but this bothers me.  Can the entire country be so apathetic to banks that they would continue to do business with a bank that needed money from the government because they made a "few mistakes"?  Does your workplace get that kind of guarantee?

Community Banks will also be affected by the Financial Reform Bill.  More oversight will be added and more cost will be incurred to prove we didn't do what we have never done.  That is, take risky chances with our customer funds.  We are devoted to using our deposits to reinvest in our communities.  We want to make strong loans to residents of our area.  We are not interested in derivatives and sub-prime loans to get a better rate of return!