Dodd Frank Lending Reform Impairing Bank Profitability

Posted by Jessica Toney | Aug 29, 2013 10:24:43 AM

inefficient-processThe Dodd Frank Wall Street Reform and Consumer Protection Act is making it more difficult and more expensive for banks to create and service mortgage loans.  When you combine this with a recovering but still very slow housing market, banks need to look for new ways to generate interest income. Financial institutions are notoriously slow to adapt to changes in markets or changes in regulation. When they are hit with changes to both banks go into prioritization mode. By their nature, bankers are risk averse. The loss of interest income is bad, but reduction in staff or branch closures can offset loss of income. If you fall into regulatory punishment a bank can lose its charter. So what can a bank do but spend its time and resources on regulatory compliance?

While the Dodd Frank lending reform impacts bank processes and practices, the MyLoans™ software provides a unique opportunity for banks to generate interest income with minimal overhead and almost no impact to their internal processes and practices.

Dodd Frank Lending Reform and MyLoans™

Just like Dodd Frank Lending reform was created to protect the consumer, MyLoans™ was created to equally benefit all parties and avoid predatory lending and obscenely high interest rates.  Unlike credit card and non-bank loans, MyLoans™ is fair, equitable and federally insured and regulated. MyLoans™ is a great solution for all involved parties. The borrower (patient) can afford medical procedures with fast access to a loan provided by a federally insured and fully regulated financial institution.  The medical provider (medical office, hospital, healthcare provider) gets immediate funding of its accounts receivables.  The bank gets a new customer and interest income in exchange for servicing the loan.  So in a time when the Dodd Frank Lending reform is directly impacting a bank's ability to book and service new loans, MyLoans™ provides an opportunity for your bank to generate interest income in a way that is safe, fair and equitable for everyone involved.

About MyLoans™
By providing patients with fast access to medical loans at a fair and unchanging interest rate, the MyLoans™ software by Epic River enables financial institutions to ease the financial stress of health care through collaboration with medical providers. Not only can medical providers offer a federally insured and fully regulated financial agreement between banks and patients for medical care needs, but doctors and hospitals alike can finally get immediate funding of their patient’s outstanding balances. Additionally, financial institutions gain new customers and interest income with little administrative overhead in exchange for servicing the loan. For more information, visit

About Epic River, LLC
Since its inception in 2005, Epic River has been providing high quality software services aimed at solving process-intensive problems. With a focus on high quality and rapid delivery, Epic River’s methodology accelerates the process of innovation while keeping a firm grasp on the business case behind the application, enabling our partners to grow their market leadership. The company’s unique approach to the agile methodology and user experience ensures both parties work closely together every step of the way. Whether you’re looking to expand into new technologies or markets, need a custom internal tool, assistance with architecture, or simply need someone you can trust to make technology decisions, Epic River is at your service. For more information, visit

Topics: News

Written by Jessica Toney

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