Today President Donald J. Trump hosted a National Economic Council listening session in the Roosevelt Room of the White House with community bankers from around the country.
The President and the community bankers—along with Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn—discussed how excessive regulation is threatening the future of community banking in America. President Trump noted that community banks are crucial to our Nation’s economy, particularly because they provide approximately half of all loans to small businesses—the engines of economic growth and job creation in the United States.
Current one-size-fits-all banking regulations have badly hurt America’s community banks. President Trump promised to work to tailor the Nation’s regulatory framework so that it accounts for the unique challenges faced by community banks.