To the editor:
Virginia’s Main Street banks play a vital role in ensuring a vibrant economy, providing the necessary capital for building homes, businesses and schools. As leaders in our communities, banks have invested in financial education, community revitalization and philanthropic programs.
The pendulum has swung too far, and it’s time to right-size regulation in a more tailored approach.
U.S. Senate Bill 2155 — the Economic Growth, Regulatory Relief and Consumer Protection Act — is a carefully crafted bipartisan bill that makes commonsense improvements to the nation’s financial rules. It allows Main Street banks to better serve their customers and communities by opening doors for more creditworthy borrowers and businesses. It strikes the right balance between ensuring fundamental standards while offering flexibility to meet the specific needs of Virginians.
I want to thank Virginia’s U.S. senators, Mark Warner and Tim Kaine, for cosponsoring S. 2155. These sensible regulatory changes will help banks like ours continue to serve our communities and make it easier to help our neighbors purchase a home or expand their business.
With frequent gridlock in Washington, this bipartisan legislation is a shining example of how our elected leaders can advance solutions by working together and across the aisle.
JEFFREY V. HALEY
President and Chief Executive Officer
American National Bank