The biggest obstacle in the way of banks’ ability to create jobs and grow the economy is a framework of overly prescriptive rules and “one-size-fits-all” regulations, American Bankers Association Chairman Dorothy Savarese wrote in a Fox Business op-ed today.
Recapping ABA’s Government Relations Summit last week — which set a new attendance record — and the recent community banker meeting with President Trump that Savarese attended, she said she was encouraged that the president and lawmakers of both parties “acknowledge the need for common-sense changes — regulatory calibrations that can kick-start our economy while maintaining a financial system that is safe, sound and resilient.”
“These are changes bankers seek not for our own sake, but for those we serve,” Savarese wrote. “Because we know that when the full potential of America’s banks to drive economic growth is realized, our customers, communities and country thrive.”
