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This AEI Events Podcast features economic policy experts discussing the future of community banks. Chairman Blake Luetkemeyer (R-MO) gave a keynote address about his personal experience in banking, the upcoming bill related to community banking, and its potential to help community banks and consumers nationwide.
Following Chairman Luetkemeyer, AEI’s Paul H. Kupiec highlighted the nationwide decline in community banks, especially after the 2007–08 financial crisis. New York University’s Richard Sylla provided a brief historical overview of community banking in the United States, including the growing number of small banks from 1782 to 1920, which contrasts with trends in other advanced economies.
Thomas Hoening, the outgoing vice chairman of the Federal Deposit Insurance Corporation, spoke about the macroeconomic indicators underscoring the good economic health of community banks as a whole. He also discussed the need for reforms to improve the future of community banks. Oliver Ireland of Morrison & Foerster LLP stressed the prohibitive regulatory costs on small banks. Rebeca Rainey of Independent Community Bankers of America spoke about the interdependence of small banks and rural communities, which plays an important role in stimulating economic growth. She also discussed emerging challenges for small banks and how these banks can use technological and financial innovations to thrive in the long run.
This event took place on May 9, 2018.
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