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Bank regulation: Are we going to lie to ourselves?

Person taking lie detector test
Photo: Getty Images

Stephen Scott, Gary Cohn, Jay Clayton, Starling Insights+2

6 min read
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When it comes to compliance, the difference between saying and doing can be exacerbated by an excess of regulation.

In 2015 the Army War College produced a courageous paper: Lying to Ourselves: Dishonesty in the Army Profession. It summarized research into how soldiers had felt forced to respond to a “deluge” of operational compliance demands imposed from above.

These process and reporting requirements built up incrementally, eventually becoming so overwhelming

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