Wed 2 Sep 2009
Bob Chapman
Next year, I’m excited to take the helm of the Michigan Bankers Association Board of Directors. A large part of what the association does is advocate on the issues facing community banks, and new regulations will be a main point of concern. About a month ago, President Obama stated his view of financial regulatory reform. The broad picture was to try to get more oversight on shadow banking, mortgage brokers, and others that really started the economic problems we’ve been facing. Community banks weren’t involved in that; we weren’t making sub-prime loans, yet we may face more regulation, as well.
I was recently interviewed by the Ann Arbor Business Review, where I expressed my views on regulatory reform, and what the Michigan Bankers Association will be doing to address it. You can read that entire article at http://tinyurl.com/kmaswr.
We all know that some institutions got out of hand, and that more oversight is needed to ensure it doesn’t happen again. But this time, let’s do it the right way and better regulate the ones that need it, not the ones that don’t.
Glad to see your leadership on the Michigan Bankers Association. We need to keep Community Banks out out of the shadow of larger banks.