The ABA testified on the critical steps needed to reduce community banks’ regulatory burden and assure our country has a healthy and vibrant community banking sector in the future.
Kenneth Burgess, chairman of FirstCapital Bank of Texas, testified on behalf of ABA before the House Subcommittee on Financial Institutions and Consumer Credit. FirstCapital is a $713 million bank serving Midland, Amarillo and Lubbock, Texas.
In his testimony, Burgess said that it’s time to move from good intentions to substantive changes that will have tangible results for community banks. He noted that recent actions taken by regulators on capital standards and mortgage lending can have unintended consequences that slow economic growth.