Rick Cantele, Salisbury Bank's President and CEO was one of nearly 1,000 bankers who visited the nation's capital recently to voice his concerns about how current banking proposals could impact the local economy. The visit was part of the American Bankers Association's annual Government Relations Summit.
|Rick Cantele, President and CEO|
Cantele met with Senator Richard Blumenthal and Congressman Chris Murphy, to discuss recent regulatory changes and ways to enhance small business lending. He also joined other community bankers urging representatives to support H.R. 1081, the Consumers Payment System Protection Act that would stop the Federal Reserve from implementing the debit interchange pricing provision of the Dodd-Frank Act.
According to Cantele, "The Fed's proposed interchange rule places unfair price controls on debit card interchange that will mean our return on the product will be less than our costs in providing it. This will significantly affect our ability to offer this important customer benefit."
"Community banking remains the foundation for our economic recovery," Cantele said. "Banks and small business have a shared interest in helping our local economy thrive. We will be successful so long as new laws and new rules support - and do not undermine - job growth."
Each March, hundreds of bankers from across the nation gather in Washington for ABA's Government Relations Summit to personally share their concerns with high-ranking Administration officials, leaders of Congress and federal regulators.
Salisbury Bancorp, Inc., is the parent company of Salisbury Bank and Trust Company, a full-service community bank headquartered in Lakeville, Connecticut which presently operates full service branches in Canaan, Lakeville, Salisbury and Sharon, Connecticut, Sheffield and South Egremont Massachusetts as well as Dover Plains and Millerton, New York. The Bank has been serving families and businesses for 160 years and offers a full range of consumer and business banking products and services as well as trust and wealth advisory services.