Kelly, who is chairman and CEO of SpiritBank in Bristow, Okla., noted that banks continue to face a challenging regulatory environment that now includes the grave threat posed by the Basel III capital proposals. He urged regulators to partner with banks in advocating for solutions to the Basel III proposals and other challenges.
Regulators, for example, should actively oppose the expansion of tax-exempt credit unions, advocate for the extension of the Transaction Account Guaranty (TAG) program, and oppose the application of the disparate impact standard in fair lending enforcement, Kelly said.
He urged bankers to continue engaging in advocacy for the good of the industry and the country.
We have to be committed to oppose that which will destroy this industry. Our cause is just. Our cause really is the success of America. It’s about freedom, justice, and the strength of our economy.