Banks warned over regulatory risk
WASHINGTON, DC – Banking organisations should not overemphasise regulatory risk at the expense of more significant business risks, according to John Allison, chief executive officer of BB&T Corporation, the North Carolina-based $107 billion financial services firm.
"A lot of the regulatory requirements don’t deal with real business risks, but deal with what I call politically correct risk, the risk that tends to be over-managed. In the long term we have to adhere to the regulatory clamour, but we have a huge increase in relative regulation driven by an overreaction to things like WorldCom and Enron. Inevitably that reduces the focus on something that will
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