Continuing our work with Community Banks and Credit Unions

Since Professor Warren spoke at the Independent Community Bankers of America convention last month, she and I have continued to meet with community banks and credit unions. We were thrilled to reach the milestone of connecting with small providers in all fifty states, but we know there is still more for us to do. As we said at the time, we are continuing to reach out to independent bankers and credit unions from across the country to better understand their concerns.

The week before last, Professor Warren connected with thirty-eight members of the North Carolina Bankers Association in Charlotte. In Columbus, Ohio, I spoke about the new consumer bureau and our goal to ensure a level playing field for small depository institutions with several hundred members of the Ohio Credit Union Association at their annual convention. And over the last two weeks, we have been in touch with community bankers from California, Arkansas, Kentucky, New York, and Alabama. We have reached out to the State Department Federal Credit Union, and we spoke to the community bank group at the American Bankers Association.

Finally, last week Professor Warren traveled to Lexington, Kentucky, where she delivered the Chellgren Lecture at the University of Kentucky Law School. While there, she also participated in a seminar in Louisville called A Day with the Commissioner. The event was hosted by the Kentucky Department of Financial Institutions and the Federal Reserve Banks of St. Louis and Cleveland. Many attendees of the seminar came from nearby banks, and Professor Warren stressed that consolidating the functions of several agencies into one will simplify the banks’ regulatory burden.