Regulators: Federal Reserve System and Business Environment Regulators Essay

Submitted By oscar1211
Words: 524
Pages: 3

In today’s business environment regulators are more involved than ever. Regulators try to protect the consumers as well as the integrity of our economic system. In my business, the financial services business, we deal with regulators on a daily basis. We are one of the most heavily regulated businesses in the country. To be honest, it is quite overwhelming. We deal with so many agencies, that it is hard to keep track. Companies like mine spend millions of dollars just trying to be compliant with all the regulators. Many of the regulations are well intended and do serve a good purpose.
For example, the equal Credit Opportunity which prohibits lenders from discriminating against credit applicants, establishes guidelines for gathering and evaluating credit information, and requires written notification when credit is denied. This regulation requires banks to have criteria for lending that is blind of sex or race.
Another regulation that makes sense is the Home Mortgage Disclosure which requires certain mortgage lenders to disclose data regarding their lending patterns. These way regulators can see if the lenders are discriminating against a certain are or social group.
There are many more regulations that effect both individuals and businesses. These were two examples related to my industry.
Board of governors of the federal reserve system. (n.d.). Retrieved from

There are many barriers businesses have to overcome in order to do business in other countries. Some of these can be overcome while others cannot. Some businesses try to overcome these barriers internally while others choose to outsource. No one solution is the right one. It is going to vary from one company to another.
One example of a barrier that has to be overcome is a language barrier. If an American company wants to do business in Colombia they have to learn how to do business in Spanish. Not only does it have to be done in Spanish, but it has to be conducted in Columbian Spanish. The language varies from