Texas Banking Commissioner Charles Cooper appeared before the Subcommittee on Financial Institutions and Consumer Credit last Thursday to discuss an issue he is passionate about - the ongoing crush of regulatory burden on community banks. Cooper also serves as Vice Chairman of the Conference of State Bank Supervisors (CSBS) and was representing them at the hearing alongside senior officials from the federal regulatory agencies.
The Commissioner’s testimony included commentary on “regulatory rightsizing,” the overly aggressive manner in which some regulators interpret existing laws and regulations and the importance of appropriate regulatory response.
“Commissioner Cooper has been an outspoken advocate for bringing some semblance of order to an out-of-control regulatory environment,” said IBAT President and CEO Chris Williston. “His position and expertise in the industry have garnered the respect of his colleagues and lawmakers, and allow him to be a powerful force as we attempt to effect meaningful changes to enable community banks to do what they do without undue - and in some cases absurd - interference from some in the federal government. The Commissioner’s ‘tough but fair’ approach to bank regulation works in the community banking space and should be a model for others to follow.”
Following on the heels of this powerful testimony is IBAT’s 23rd Annual Congressional Visit - in conjunction with ICBA’s 2015 Washington Policy Summit - this week. IBAT members will meet with key decision makers and regulatory agencies to advocate for reasonable changes to statutes that have resulted in significant burden on community banks and their customers. We’ll report back about this important event in next week’s Bottom Line.