Due to the financial crisis of 2007–2008, many new laws were passed that added more layers of oversight and regulation to the banking industry. Smaller community banks have become concerned with the newly imposed regulations by the federal regulators on their bank. What is the best action the bank could take to alleviate this situation?

Apply for a charter conversion from a federally-chartered bank to a credit union.
Refuse to implement recommended changes made by the regulators.
Apply for a charter conversion from a state-chartered bank to a federally-chartered bank.
Do nothing; unfortunately, a bank has no recourse when it comes to regulations.