First, there is no point in even continuing this conversation unless we can demonstrate that our financial services industry and economy are under close control for AML/CFT purposes. We have made very large strides in this area—but the fact that we have had to make very large strides indicates that we started from a weak position.
For instance, many of the places that I have visited, such as in the colonias, the Mississippi Delta, Appalachia, and Indian Country, have few bank branches and are located outside of branch-based assessment areas. Banks need to be confident about receiving CRA credit to seek out activities and investments in these areas.