George Hermann, President & CEO
Attends Treasury Meeting to Discuss Regulatory Challenges Facing Community Banks
(Windsor, April 6, 2017) On April 5, George Hermann President & CEO joined a delegation of community bankers from across the country to meet senior Treasury officials to explore unnecessary and outdated regulations that are hindering economic growth and making it more difficult for banks to serve their customers and communities.
During the meeting, bankers had the opportunity to discuss a range of topics, including the importance of the community bank business model; ensuring regulation is tailored to institutions’ unique characteristics, mortgage finance reform, the ability of community banks to raise capital and other important issues.
“Community banks play a critical role in driving our nation’s economic growth, and I was pleased to represent Connecticut in this important meeting,” said Hermann. “We were able to offer Treasury officials important perspective on common-sense regulatory changes that would allow banks like mine to better serve their customers and communities.”
This meeting comes less than a month after several community bank leaders met with President Trump and his economic leaders at the White House to discuss regulatory challenges faced by community banks. The Treasury meeting was pursuant to an executive order from President Trump for the Treasury secretary to review financial supervision and rules.
George Hermann currently serves as Treasurer of the American Bankers Association’s and is President of the Connecticut Community Bankers Association. He was joined by other ABA bank members from ABA’s Board of Directors and banker committees.