'You'll Be Safe': Trump's Promise to Smaller Banks, Small Businesses
WASHINGTON -- President Donald Trump met with community bank executives Thursday to discuss the onerous financial service regulations (The Dodd-Frank Act) enacted after the 2007-2009 financial crisis.
Speaking at Thursday's meeting, which the White House called a "listening session," the president vowed to come up with ways to ease burdensome regulations on small banks.
The idea is to unlock small business lending and spur economic growth.
"We must ensure access to capital," Trump told bank executives. "You'll be able to loan; you'll be able to be safe, but you'll be able to provide the jobs that we want and all create great businesses."
The news comes after the president signed an executive order last month instructing the Treasury secretary to look into the 2010 Dodd-Frank financial overhaul.
"Dodd-Frank is a disaster," Trump said during a February meeting with small business owners. "We're going to be doing a big number on Dodd-Frank."
According to Bloomberg News, Thursday's attendees included Leslie Andersen, CEO of Bank of Bennington; Ken Burgess, the chairman of FirstCapital Bank of Texas; Luanne Cundiff, CEO of First State Bank of St. Charles; Scott Heitkamp, CEO of ValueBank Texas; and Rebeca Romero Rainey, CEO of Centinel Bank of Taos.
