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President Trump Meets with Community Bankers
President Trump held a meeting at the White House on Thursday, March 9, 2017, with nine community bankers, CEO of the American Bankers Association Rob Nichols, and CEO of the Independent Community Bankers of America Camden Fine to discuss financial regulatory relief. White House officials in attendance included Treasury Secretary Stephen Mnuchin, Director of the National Economic Council Gary Cohn, and White House Chief of Staff Reince Priebus. The meeting included discussion on CFPB accountability, reducing compliance burden for financial institutions and tailoring regulatory capital standards.
President Trump praised community banks and offered to help relieve regulatory burdens. “You'll be able to loan. You'll be able to be safe. You'll be able to provide the jobs that we want and also create great businesses," President Trump said.
House Financial Services Chairman Jeb Hensarling (R-TX) commented on the meeting, stating, “It is encouraging to have a president who is listening to the concerns of community bankers who have been buried under an avalanche of burdensome regulations as a result of Dodd-Frank.” He added, “Republicans on the Financial Services Committee are eager to work with the President and his administration this year to fulfill the pledge to dismantle Dodd-Frank and unclog the arteries of our financial system so the lifeblood of capital can flow more freely and create jobs.”