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WASHINGTON — A diverse group of community bankers from across the country met with President Trump today to discuss how the current regulatory environment affects their ability to serve customers and drive economic growth. Among the attendees were ABA President and CEO Rob Nichols, ICBA President and CEO Camden R. Fine, and nine bankers, including ABA officers and several members of key ABA committees. Topics of discussion included the importance of tailored regulation, the need to hold the Consumer Financial Protection Bureau more accountable, regulatory changes to increase small business and mortgage lending, the impact of compliance burden, and the need to ensure regulatory capital standards are aligned with actual risks and conducive to credit availability. Nichols commended President Trump for meeting with community bankers to hear the challenges they face serving their clients, customers and communities in today’s regulatory environment. “Today’s meeting is an important step toward policy changes that will allow banks to go even further in helping communities and our economy thrive,” Nichols said. “The diversity and strength of our banking industry is the envy of the world. However, in the current regulatory environment, highly prescriptive rules mean that mortgages don’t get made, small businesses don’t get created and banks find it more difficult to make the loans that drive job creation. This is particularly true for community banks. A careful review of Dodd-Frank and other financial regulations will strengthen financial institutions and allow them to continue driving economic growth.” “We look forward to continuing to work with President Trump, the White House team, the Treasury department and members of Congress on both sides of the aisle to bring pro-consumer reform to our nation’s financial system,” Nichols added. ABA members who participated in the meeting include:
“Today’s meeting was a great first step in bringing about positive changes,” said FirstCapital Bank of Texas Chairman Ken Burgess. “We look forward to working together with all members of the Administration to help improve the access to banking for our customers and local communities.” ICBA members that participated include:
The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend more than $9 trillion in loans.
About FirstCapital Bank of Texas
With headquarters in Midland, Texas, FirstCapital opened its doors for business on Nov. 17, 1998. FirstCapital is a locally owned and managed, independent community bank serving predominantly the people of West Texas, the Texas Panhandle and the Texas Hill Country with offices in Amarillo, Horseshoe Bay, Lubbock and Midland. FirstCapital Bank is committed to placing “You above all,” which means we place the well-being of our customers, team members and community above all else. We are here to help you achieve your financial, business and life goals and have the highest quality products and services to help you do just that. Click here to visit the FirstCapital Bank of Texas website.
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