Overall, I think it is entirely appropriate to regularly ask whether our approaches to supervision are consistent with the stated policy objectives of efficiency, safety and soundness, and financial stability. One of those objectives is a healthy community banking sector that can continue to serve its customers. The pandemic has emphasized just how important that is.
The Leading Challenge for Community Banks Another theme I have heard repeatedly from CEOs is the strong message that they are struggling with the cost and burdens of regulatory compliance. Many bankers have said they consider this the most significant threat to their existence.