Daniel Tarullo, a member of the Board of Governors of the Federal Reserve System, admitted, although he did not say it explicitly, that the Federal Reserve and the U. S. Congress has failed the smaller banks of America.
The smaller banks of America, those whose asset size is less than $250 billion, have not been doing well since the financial collapse that came in 2007 and have found that the regulatory requirements imposed on the system by the Dodd-Frank law that re-directed the banking system, have been a burden that is hard to bear.
