Mar 9, 2017


Washington, DC (March 9, 2017) Congressman Steve Pearce released the following statement today following President Trump’s meeting with community bankers, which included Rebeca Romero Rainey, Chairman and CEO of Centinel Bank of Taos and the current Chair of the Independent Community Bankers of America (ICBA).

“Community banks are the cornerstone of the New Mexican economy. These local banks support small businesses, provide financial support to families, help multiple generations plan for the future, and make buying a new home possible for so many. Yet, the federal regulations that have resulted from Dodd Frank have driven thousands of these community institutions out of business. It’s comforting to see President Trump sit down with community bankers from around the nation who are directly connected to the success of our local economies, to gain a further understanding of the massive burden federal regulations impose on working families.  Most importantly though, it’s great to see New Mexico represented in these discussions. Rebeca Romero Rainey was named the head of her family’s bank at the age of 23. Since then, she has dedicated herself to fighting for fair regulations that allow community banks to serve their neighbors, while also protecting consumer choice,” stated Rep. Pearce. “As a member of the House Financial Services Committee, I’ve seen and fought against these harmful and unnecessary regulations that harm our local communities. When this happens, small businesses are squeezed out of the marketplace and unable to compete with larger firms, hindering job growth and crippling our economy.”   

“I will continue fighting on the House Financial Services Committee for greater opportunities so people can achieve financial independence, raise the standard of living, and earn success – but this cannot be done without involvement of local bankers, community leaders, and every day citizens who are just making it by in our current economic environment. I look forward to working with community bankers and the Administration to unleash the banks from crippling regulations and take the hassle out of banking for people in New Mexico,” stated Rep. Pearce.