Community banks say that they may be pushed out of the residential mortgage market, leaving it in the hands of a few lending giants, because of an effort by global regulators to make banks hold more in their reserves in the event of a crisis, the Washington Post reported today. The move will hit smaller banks harder than big ones, lessening their ability to provide mortgages and other loans to consumers, community bank advocates say. Their complaints, which will be aired during a hearing on Capitol Hill today, follow long-standing concerns that out of the crisis a few behemoths, such as JPMorgan Chase and Wells Fargo, are dominating banking. Read more: http://www.washingtonpost.com/business/economy/small-banks-battle-regul…
For more information on the Senate Banking Committee's hearing today at 2:30 p.m. ET, please click here: http://banking.senate.gov/public/index.cfm?FuseAction=Hearings.Hearing&….