Here's why 'Shark Tank' star says small banks won't be around in 24 months
O'Leary says that small banks are struggling because Americans are borrowing less money.
Kevin O'Leary is the chairman of O'Leary Ventures, and host of "Shark Tank." He explains why Americans have a hard time borrowing money. And what this could mean for smaller banks. He says that this is because of the Dodd-Frank Act, which has put many regulations on banks. As a result, the banks are more cautious when it comes to lending money. O'Leary believes that small banks are affected by this, as they tend to lend money to small businesses. He believes that small banks can only survive by merging with larger banks.