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James I. Kaplan quoted in article “One Size Hurts All”

AZ Business Magazine

Below is an excerpt:

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 is the most sweeping financial regulatory legislation Congress has passed since the Great Depression. It was supposed to clean up and stabilize the financial industry.

Experts say it’s had the opposite effect.

“Dodd-Frank has changed the economics of the banking business adversely, particularly for small to mid-size banks (less than $10 billion in assets),” says James Kaplan, a member of Quarrels & Brady’s Business Law Practice Group in Phoenix. “By discouraging and outright prohibiting risk in some cases, (Dodd-Frank) cuts the supply of credit to households and businesses and has done its share in creating a perpetual slow-growth economy. (It has) discouraged residential mortgage lending, discouraged small business and real estate development lending, and in general seeks to reduce greatly the inherent risk in free enterprise activity to too great an extent.”

Originally published in AZ Business Magazine, December 2014