Friday Blog…

Friday Blog…

 RE:  The New Banking Secretary

Yesterday afternoon, I joined with other members of the PACB executive committee in an extended, private conversation with Banking Secretary Glenn Moyer.  As the newly-installed head of a regulatory agency, the perspective he offered is pretty refreshing. 

 Secretary Moyer understands that safety and soundness are the top priorities for the department. He argues that prescriptive, rather than punitive measures are the best way to achieve those objectives.  We certainly agree.

The community bankers who’ve worked alongside Secretary Moyer in years past, universally attest to his unquestioned integrity.  It’s a trait that came through when he argued the importance of the dual banking system and the need to take a new look at an industry governed by a 45 year old law.

Because community banks face significant challenges, it’s great to know that this seasoned banker is leaning forward with a practical, necessary agenda.  Secretary Moyer’s approach is grounded, not emotional or charged with any sense of a political agenda.  I think everyone around the table would second the idea that he is the right man to protect the interest of Main Street Pennsylvania!  It was an encouraging meeting.

That’s the view from Harrisburg.  I thought you would enjoy hearing a good word from headquarters.

 For Stronger Communities,

Nick DiFrancesco


PS:  CONVENTION UPDATE:  The next ten years of community banking will look far different than my first ten years working with this industry.  So much has changed and more is coming. In one short month, we’ll be heading out to the 134th PACB Annual Convention in Lake Tahoe, NV, where industry experts will share perspectives on how community banks can continue to thrive in a hostile regulatory and economic environment.  Saundra, Shirley, Patty, Aimee, Frank and focused on delivering a great convention experience.  I hope you’ll join us!