The following can be attributed to Matt Well, spokesperson for the Regional Bank Coalition (RBC), on today’s Senate Banking Hearing on “Fostering Economic Growth: Regulator Perspective.”

“The Regional Bank Coalition (RBC) agrees with the Federal Reserve’s Jerome Powell and OCC’s Keith Noreika, who both highlighted the need to move away from basing regulations solely on asset size in their Senate Banking testimonies. Matching requirements to the overall risk of an institution—including their interconnectedness and complexity—would ensure the safety and soundness of the financial system without limiting critical Main Street lending, as the current environment has done. A multi-factored approach to risk—one of the only Dodd-Frank reform proposals to garner bipartisan support—would allow regional banks to better serve their communities and thereby foster needed economic growth.”