WASHINGTON, D.C.—A group of community bankers from across the country, including Chesapeake Bank president and chief executive officer Jeff Szyperski, on March 9 met with President Donald Trump to discuss current regulations impacting community banking.
The White House invited attendees to meet with President Trump to discuss how the current regulatory environment affects the ability of community banks to serve customers and drive economic growth.
“It was an honor to meet with the President and be among other community banking executives from across the country to talk about important issues,” Szyperski said. “Community banking plays a significant role in the growth of our economy and I was grateful to be a part of the conversation.”
Among the attendees were American Bankers Association (ABA) president and chief executive officer Rob Nichols, Independent Community Bankers of America president and chief executive officer Camden R. Fine, and nine bankers, including ABA officers and several members of key ABA committees.
“Today’s meeting is an important step toward policy changes that will allow banks to go even further in helping communities and our economy thrive,” Nichols said. “The diversity and strength of our banking industry is the envy of the world. However, in the current regulatory environment, highly prescriptive rules mean that mortgages don’t get made, small businesses don’t get created and banks find it more difficult to make the loans that drive job creation. This is particularly true for community banks. A careful review of Dodd-Frank and other financial regulations will strengthen financial institutions and allow them to continue driving economic growth.”
“We look forward to continuing to work with President Trump, the White House team, the Treasury department and members of Congress on both sides of the aisle to bring pro-consumer reform to our nation’s financial system,” Nichols added.
Szyperski, of Weems, also is the chairman and member of the boards of directors for Chesapeake Financial Shares Inc. and Chesapeake Bank. He also serves as chairman and a member of the board of directors for Chesapeake Wealth Management.
He is active in the ABA, serving as vice chairman and member of the board of directors and executive committee. He also is active in the Virginia Banker’s Association, serving as a past chairman and a current member of the board of directors.
Chesapeake Bank is headquartered in Kilmarnock and operates 14 community banks in the Northern Neck, Middle Peninsula, Williamsburg and Richmond region. Founded in 1900, Chesapeake Bank is primarily a lender to small businesses and is active in each of the communities it serves.
Named in 2016 by American Banker as one of the Top 200 Community Banks and a Best Bank to Work For, Chesapeake Bank employs 225 associates and encourages each one to live according to the Bank’s “It’s All About Community” approach.
The ABA is the voice of the nation’s $17 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend more than $9 trillion in loans.