Release Date: March 9, 2017
Orleans, MA – Dorothy Savarese, President and CEO of The Cape Cod Five Cents Savings Bank, was among a small group of community bankers invited to a special meeting at the White House. The purpose of the meeting with President Trump and the Administration was to present a range of concerns and aspirations for community banks to more effectively serve their customers and communities, including increasing small business and mortgage lending.
At the meeting, there was an open discussion of the challenges facing the approximately 5,000 community banks across the country as a result of the current one-size-fits-all bank regulatory policy. Ms. Savarese led the group in her capacity as Chairman of the American Bankers Association and CEO of a community bank.
“The intent of the meeting was to help the Administration better understand the unique role of these small banks in meeting the needs of their communities, as well as the criticality of regulation tailored to support a strong and diverse banking system to meet the financial needs of all consumers and strengthen our economies at the local, state and national levels,” stated Ms. Savarese.