The cost of the new regulations has resulted in higher prices for virtually every banking service. Imagine the cost of a banking system that must pay for tens of thousands of people involved in regulation. The cost of this structure is passed along to the users of the system. Free checking is a memory.
The Durbin Amendment is another example of how Dodd-Frank drives up banking costs. It drove free checking out of the banking system by price-fixing debit-card services. There are multiple “Durbins” in Dodd-Frank. Bank branches are being closed across the country.