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Dodd-Frank's 'Crushing' Rules Hurt Small Banks, Says Citizens Bank of Edmond CEO


NEW YORK (TheStreet) -- The money center banks that caused the 2008 financial crisis have massive balance sheets to pay for the additional protocols put in place in its aftermath. Unfortunately, it's not as easy for smaller players like Oklahoma-based Citizens Bank of Edmond to foot the bill for these "crushing regulations", said the company's CEO Jill Castilla.

"Dodd-Frank was well-intentioned, and it was addressing the crisis in a way in which the government could control some of the activities that were a little aggressive. But on Main Street we weren't doing those things," said Castilla.

Not that Castilla is afraid to compete with the banking industry's giants. She said community banks may not have the resources of a JPMorgan...