WASHINGTON--(EON: Enhanced Online News)--Today, 18 CEOs representing regional banks across the country sent a letter to Leader Mitch McConnell, Speaker Ryan, Minority Leader Schumer, and Minority Leader Pelosi outlining the banks’ priorities for the 115th Congress.
In the letter, the banks wrote, “…While together we are an important source of credit to American families and businesses, none of our institutions presents the sorts of systemic risk that have rightfully been a key focus of policymakers after the financial crisis… We support appropriately tailored regulations to ensure the safety and soundness of all banks, the stability of the financial system and strong consumer protections. We have consistently promoted this view and appreciate the engagement and support on these matters from many Members of Congress.”
In conjunction with the letter’s release, Regional Bank Coalition (RBC) spokesperson Matt Well issued the following statement:
“Across the country, regional banks play a vital role in local economies, providing critical funding to businesses and commercials projects to make communities stronger. Unfortunately, the current one-size-fits-all regulatory environment keeps these institutions from best serving their communities during these critical years of post-recession recovery. Regulations based on asset thresholds keep the financial system from being as safe and sound as possible. A multi-factored approach to risk keeps banks appropriately regulated while ensuring banking customers have access to the support needed. We look forward to working with Congress to move towards a properly calibrated regulatory environment.”
The full letter can be found here.