The following can be attributed to Matt Well, spokesperson for the Regional Bank Coalition (RBC), in response to President Trump nominating Fed Governor Jerome Powell for Chairman of the Federal Reserve.

“We congratulate Governor Powell on his nomination to Chairman of the Federal Reserve. We agree with his comments that regulations for financial institutions should be tailored based on multiple factors and are hopeful he will continue to advocate for policies that remove unnecessary regulatory burdens on regional banks, which will ultimately allow them to increase consumer and commercial lending and support economic growth. With the Fed already using a risk-based approach for a number of supervisory decisions, and OFR endorsing this multi-factor approach, using this method in all financial regulatory decisions is commonsense.”