Pennsylvania’s Community Banks are responding to urgent concerns about bank regulations on bank customers and consumers. The Rolling for Repeal motorcycle tour highlights the crippling costs Pennsylvania communities and consumers pay because of Dodd-Frank legislation (The Wall Street Reform and Consumer Protection Act of 2009) signed into law by President Obama.
Pennsylvania cannot afford to lose one more community bank due to misguided regulations. The intent of the 2,300 page “Wall Street Reform and Consumer Protection Act” was to reign in the risky, unethical practices of our nation’s largest financial institutions. FDIC statistics will prove that over the past 8 years the largest financial services companies (those over 1 trillion in assets) grew larger, which can easily be interpreted as posing a greater risk to our nation’s economy. The regulations have significantly strained Pennsylvania’s community banks by introducing an environment that forces mergers and threatens consumer options. Dodd-Frank has become a political litmus test to the two political parties in Washington, DC, but on Main Streets across America, the aftermath is fewer community banks and fewer consumer choices.
The Rolling for Repeal tour continues to sound the alarm warning that Pennsylvania cannot afford to lose one more community bank. Our warning has been heard and the U.S. Senate has taken action. On March 14, 2018 the Senate passed pro-community bank legislation and urged the House to advance needed relief immediately. The bipartisan Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) would bolster local economic and job growth by providing much-needed relief to Main Street community banks.
For additional information on S. 2155 please visit the ICBA’s website: CLICK HERE
To participate in the Reg Relief petition drive, please visit the ICBA’s petition page: CLICK HERE
Wednesday, May 2, 2018
Ambler Savings Bank — Ambler, PA
Covenant Bank — Doylestown, PA
Friday, May 11, 2018
Harleysville Bank — Harleysville, PA
Monday, May 21, 2018
Enterprise Bank — Allison Park, PA
Thursday, May 24, 2018
Bank of Bird-in-Hand — Bird-in-Hand, PA
Wednesday, June 6, 2018
Fleetwood Bank — Fleetwood, PA
Coatesville Savings Bank — Coatesville, PA
Tuesday, July 17, 2018 — Thursday, July 19, 2018
Marquette Savings Bank — Erie, PA
Standard Bank, PaSB — Monroeville, PA
PACB hopes to reach as many community banks as possible before PACB Convention 2018. If you would like to add your community bank as a stop on the Rolling For Repeal tour, please contact Jena Wolgemuth by phone at 717.231.7447 or by email at email@example.com.
Every stop we make on the tour helps to ensure that your community bank will survive, thrive, and be there to assist your community in Keeping The Lights On In Our Hometown.
Pocono Record, October 2, 2017: “Wall Street regulations limit local access to credit” by Howard Frank – READ THE ARTICLE
Sun-Gazette, October 20, 2017: “Traveling rally argues regulations too tough on institutions, consumers” by Mike Reuther – READ THE ARTICLE
PACB’s Facebook Page: PaCommunityBanks
PACB’s Twitter Account: @PaCommBankers
PACB’s Instagram Account: PaCommBankers
PACB’s YouTube Channel: PaCommunityBankers
PACB President/CEO Nick DiFrancesco’s Twitter Account: @PACB_Nick
PACB Chairman & JBT President/CEO Troy Peter’s Twitter Account: @TroyAPeters
Rolling For Repeal Hashtags: #RollingForRepeal, #bikeonasmile