The Future of Community Banking: A Story Worth Telling
Good morning, everyone! I'm thrilled to be here at the Federal Reserve Board, surrounded by some of the most influential community bank CEOs in our nation. It's an honor to address such an esteemed group and discuss the vital role community banks play in our financial ecosystem.
Our country boasts the world's largest and most dynamic financial system, ensuring capital reaches those who need it most. Community banks are the backbone of this system, providing essential services to small businesses, families, and individuals striving to achieve their financial goals. In an era of rapid technological advancements, shifting regulations, and evolving consumer needs, your work is more crucial than ever, yet it also presents unique challenges.
This conference is an opportunity to look ahead, explore the opportunities and risks that lie ahead, and discuss the innovations shaping the future of community banking. It's about sharing the story of community banks—the impact they have on local communities, the services they provide, and the value they bring to the banking system as a whole. We want to ensure community banks have a voice and can craft their own narrative.
We have an incredible lineup of speakers and panelists today. Over a hundred community bank CEOs are here in person, with many more joining virtually. Our panels will feature diverse perspectives from across the financial industry. I'm eager to hear from these leaders about the emerging trends, economic shifts, and innovations they're witnessing, including the impact of artificial intelligence, fraud, and new technologies.
We're also fortunate to have special guests like Treasury Secretary Scott Bessent, Paxos CEO Chad Cascarilla, Blackstone CEO Stephen Schwarzman, and Robinhood CEO Vlad Tenev. Their insights will broaden our understanding of how economic and industry developments intersect with community banking. Additionally, we're excited to have CNBC host Jim Cramer moderate a panel of experienced community bank CEOs with a wealth of collective banking expertise.
Today, we'll showcase how community bankers have consistently adapted, innovated, and excelled while staying true to their mission. Their efforts may not always make the front-page headlines, but they should. Jim Cramer is the perfect choice to elevate the community bank narrative and highlight the immense value community banks bring to America's economy.
We'll also host a traditional policy panel, where community bank CEOs will discuss capital and liquidity regulation. This session will provide an open and honest dialogue about how regulatory frameworks impact your institutions and your ability to serve your communities. These conversations are crucial in shaping our regulatory approach and ensuring policies are fair, balanced, and effective.
The overarching theme of today's conference is clear: there is immense support from both the public and private sectors for a strong, resilient, and thriving community banking industry. Each session today reflects a shared belief in the importance of community banks to America's economic future.
Thank you for being here and for your dedication to community banking. Now, I'd like to extend a warm welcome to our esteemed Treasury Secretary, Scott Bessent, and invite him to share his valuable insights with us.
