California Op-Ed: Reg Reform Is ‘Sensible Solution’

Several bills pending in Congress represent “sensible regulatory changes” that will help banks of all sizes grow the economy, wrote California Bankers Association President and CEO Simone Lagomarsino in an Orange County Register op-ed today. She highlighted several bills that are part of the American Bankers Association’s Blueprint for Growth and urged Congress to pass them swiftly.

Specifically, Lagomarsino commended ABA- and CBA-backed bills that would require tailored regulation, remove arbitrary supervisory asset thresholds and enhance banks’ ability to make safe portfolio mortgage loans. She cited figures from Federal Financial Analytics that peg the impact of Dodd-Frank compliance at $14-20 billion in reduced lending over five years.

“We urge the Senate, including California Sens. Dianne Feinstein and Kamala Harris, to support common-sense regulatory relief that maintains the safety and soundness of our banking system, and allows banks to better serve their customers and communities, while encouraging economic growth,” Lagomarsino wrote.