Toward better banking

On behalf of all Illinois bankers, I'd like to thank those Illinois' members of Congress who supported SB 2155, especially U.S. Reps. Randy Hultgren and Bill Foster, who sit on the Financial Services Committee, for their leadership and support in passing financial regulatory reforms that were signed into law by President Trump on May 24. These reforms will allow banks, particularly smaller institutions, to focus more of their time and resources on serving their customers and communities.

For example, it will help streamline the mortgage process and free up credit to help banks get deserving borrowers into new homes with the right mortgage. It will help small business owners get loans to expand and hire more employees. And it will help bankers devote more time to serving their customers, rather than working to comply with regulations intended for far bigger, more complex banks. Importantly, regulators agree these changes can occur while still preserving safety and soundness.

We look forward to building on the solid bipartisanship that achieved this important victory.

Daniel G. Watts, Chairman, Illinois Bankers Association

President and CEO, Forest Park National Bank and Trust Company