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Tuesday, March 20, 2012

Bankers Give Rep. Capito Standing Ovation

Bankers need a more reasonable regulatory environment that frees them to effectively serve their communities, House Financial Institutions Subcommittee Chairman Shelley Moore Capito (R-W.Va.) told bankers last night at the ABA Government Relations Summit’s opening dinner in Washington, D.C.

Capito, the lead co-sponsor of the ABA-backed exam fairness bill (H.R. 3461), was greeted with a standing ovation for her remarks. She explained how the legislation seeks to address issues that bankers nationwide have raised about the timeliness of exam reports, loan classifications and the need for a meaningful appeals process:

"We have heard repeatedly that there is a major disconnect between what we hear from regulatory agencies in Washington and how that translates to your institutions... I have concerns that the small banks won’t be able to meet the regulatory burden challenge. That would have a detrimental effect on the fabric of our country."

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