Today, the Regional Bank Coalition (RBC) and the Mid-Sized Bank Coalition of America (MBCA) released a letter in support of the Systemic Risk Designation Improvement Act (H.R. 6392) sponsored by Rep. Luetkemeyer.
“H.R. 6392 is a vital piece of legislation in addressing an improperly calibrated regulatory framework which currently employs an arbitrary asset threshold to evaluate bank risk – in turn hindering our banking institutions from serving our customers, communities and economy. Our banks are forced to focus more on regulation compliance than serving the customers, which is reducing capital that can be used for lending… We believe the regulatory framework should reflect the significant differences between community, midsize, regional and globally systemic banks.”
To view the full letter, click here.