I have become concerned at the language of corporate ethics and white collar crime. It is not precise enough for what we are doing. I have talked many times about banks often very critically. But very seldom was I speaking of the local banks, the small banks. Generally, the despicable actions of the 24 large investment banks were what was motivating my anger. We don’t have the right words. Multi-national corporations shifting jobs overseas are not the same as close corporations composed of a single family running a large farm. We speak of corporations and banks but we mean only a few. We need a new language in business ethics. We need a new precision. Those small banks, those small businesses would be allies in the fight for morality and justice if not lumped in with the others everytime criticism is made.

We need a new language.

James Pilant

From MSNBC –

Small banks have expressed concern the new agency, set to open its doors in July, will add regulatory costs, making it harder for them to survive.

Warren told a gathering of community bankers that the opposite will happen as the agency simplifies regulations on products such as mortgages and seeks to crack down on non-bank lenders that went largely unregulated during the 2007-2009 financial crisis and are accused of shady lending practices.

“I know that you want a regulatory structure that doesn’t require an army of lawyers,” she said in remarks prepared for delivery at the Independent Community Bankers of America annual convention. “Big banks may be able to afford to hire all those lawyers, but you cannot.”