Financial regulation in the U.S. has become a complicated and fragmented system, but why?
Various authorities creating compliance laws include a cast of six federal regulating agencies: The Federal Reserve, the Office of the Comptroller of the Currency, the National Credit Union Administration, the Federal Deposit Insurance Corp., the Securities and Exchange Commission, and the Office of Thrift Supervision. There are also state bank regulators, adding even more agencies (and regulations) into the swirling, whirling mix you so desperately want (nay, need) control of.