The secretary of the Treasury, Scott Besent, said on Wednesday that community bankers will play a fundamental role in the revitalization of Main Street during the time of President Donald Trump in office.
Besent spoke an opening speech at the American Bankers Association (ABA) on Wednesday morning in Washington, DC.
The Secretary of the Treasury, a coverage fund manager, said that Althegh Wall Street companies will continue to grow in the coming years: “For the next four years, it is Main Street’s turn.”
To promote the duration of Main Street growth, Trump’s presidency believes that the community banker will be a strategic partner for the American class American.
Hey, said:
As community bankers, you know the needs of the America of the small city better than anyone.
You know the concern of a young couple who saves for your first home; The worried aspect of a single mother simply scraping; And the stress of a father who tries to pay for his daughter’s education.
You know these people personally. Now, what is the best way to help them? – And you know much better than any regulator in Washington. This is the animating belief behind the Trump administration approach for small banking policy.
“Community bankers can make the United States great again – Yeah The government will leave you. My job is to make sure it allows you, “Besent emphasized.
He said the Trump administration will move to restore “common sense for the government” by making government regulations come from a “clear legal mandate.” The regulation must be efficient and the regulation must be fair.
Besent said that community banks are partly affected by “undue compliance” and that the Trump administration will review the recent rules of consumer financial protection loads (CFPB) and other regulations related to internal controls.
The regulatory agencies accused of “Drift Mission” that have led to politicized agencies focused on different issues of their main mission, including climate change and the “debate of the disadvantaged industries.”
“The Americans deserve a financial service industry that works for all Americans, including Main Street. Under the leadership of President Trump, the Treasury Department will deliver that,” Besent concluded his speech.
Sean Moran is Breitbart News policies reporter. Follow it in x @Seanmoran3.
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