WASHINGTON, D.C. (KWES) - A Midland banker traveled to the White House to meet with President Trump today.
Kenneth L. Burgess, Jr., chairman of First Capital Bank of Texas, along with other community bankers from across the country discussed 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.
"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."
"Today's meeting was a great first step in bringing about positive changes," said First Capital 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."