Pub. 4 2016 Issue 3

5 Fall 2016 The Community Banker This letter exemplifies the concerns community bankers face when dealing with the CFPB’s proposals and regulations. It shows that even the Bureau itself can’t really justify the need for more regulation, or how this regulation would protect the consumer. There again seems to be a theme: protecting financial institutions that are “too big to fail.” The proposal seeks to reduce the use of a highly-effective, low-cost, and fair processes for resolving disputes, forcing consumers to use a more expensive legal system that would not be an option for most main street consumers while it would be a drop in the hat for a large financial institution to pay their corporate lawyers to fight the grievance. These are only two examples of the Bureau’s impact on community banks. The theme of “too big to fail’ continues even within an agency whose mission is to protect consumers from unfair, deception, or abusive practices. The CFPB is not an agency that is going to disap- pear anytime soon, it is important to continue to work together as community bankers to influence the agency to not only protect our banks, but also protect our customers. This can be achieved by con- tinuing to ban together to fight unnecessary regulations in addition to educating our customers. Amy Quarles, MIB President 2015-2017 and CFO of First Security Bank of Helena UPCOMINGMIB EVENTS January 17-19, 2016 MIB Winter Board Meeting Great Northern Hotel, Helena, MT March 14-18, 2017 ICBA Community Banking LIVE 2017 San Antonio, TX April 30-May 3, 2017 2017 ICBA Washington Policy Summit Washington, D.C. July 27-29, 2017 MIB Convention & Tradeshow Great Northern Hotel, Helena, MT DON'T FORGET TOMARK YOUR CALENDAR FOR UPCOMINGMIB EVENTS