James I. Kaplan quoted in article "Bad News for Banks: More Regulatory Risk Is Coming, With a Political Twist"
Below is an excerpt:
“It is election year, let’s just hope to get out with as little damage as possible,” says James Kaplan, a partner with the law firm Quarles & Brady. He frets that big-bank witch hunts are not exclusive to any political party in the current election cycle: “Banks provide a prime target for demagogues of every stripe.”
The key to a safer banking system, Kaplan says, is not more regulation, but better risk management. “Clearly regulators, since the crisis, have been pushing the industry to make their compliance and risk management processes more robust,” he says. “Certainly, because of Dodd-Frank, banks hold more capital, which is certainly a positive. Although it hasn’t been tested, I think the Orderly Liquidation Authority is an advance. We at least have a resolution plan for failing banks now, and we didn’t before.”
Originally published in Compliance Week, January 12, 2016