The event, held at the Yuengling Brewery, brought together more than two dozen financial leaders, state officials, and policymakers for a wide-ranging discussion on the future of community and regional banking.
The roundtable centered on efforts to create a regulatory environment that balances consumer protection with the need for flexible oversight—particularly for smaller banks serving local communities.
Joining Vice Chair Bowman and Congressman Meuser were Pennsylvania Secretary of Banking and Securities Wendy Spicher, Congressman Ryan Mackenzie (PA-07), and representatives from financial institutions across the state. The event was coordinated with support from Duncan Campbell of the Pennsylvania Bankers Association and Kevin Shivers of the Pennsylvania Association of Community Bankers.
Participants addressed a variety of topics, including regulatory clarity, fraud prevention, the evolving role of digital assets, and the need for federal supervision to reflect the realities faced by local financial institutions.
Vice Chair Bowman, who oversees regulatory policy at the Federal Reserve, heard feedback on issues such as:
“This roundtable provided a valuable opportunity for local banks to share their perspectives directly with one of the nation’s top financial regulators,” said Meuser. “Our goal is to encourage a regulatory approach that supports innovation and local lending, while maintaining strong consumer protections.”
Congressman Mackenzie echoed the importance of community banks, stating, “They are critical to the success of small businesses and working families in Pennsylvania. Ensuring they can operate without unnecessary burdens is key to supporting long-term economic growth.”
The event concluded with a tour of Yuengling Brewery, recognized as the oldest operating brewery in the United States. Attendees were also treated to a lunch and informal conversation following the discussion.
The roundtable centered on efforts to create a regulatory environment that balances consumer protection with the need for flexible oversight—particularly for smaller banks serving local communities.
Joining Vice Chair Bowman and Congressman Meuser were Pennsylvania Secretary of Banking and Securities Wendy Spicher, Congressman Ryan Mackenzie (PA-07), and representatives from financial institutions across the state. The event was coordinated with support from Duncan Campbell of the Pennsylvania Bankers Association and Kevin Shivers of the Pennsylvania Association of Community Bankers.
Participants addressed a variety of topics, including regulatory clarity, fraud prevention, the evolving role of digital assets, and the need for federal supervision to reflect the realities faced by local financial institutions.
Vice Chair Bowman, who oversees regulatory policy at the Federal Reserve, heard feedback on issues such as:
- Regulatory Tailoring: Attendees discussed the need for scaled oversight for smaller institutions, including provisions in the proposed Financial Institution Regulatory Tailoring Enhancement Act, which would exempt banks with assets under $10 billion from certain Consumer Financial Protection Bureau (CFPB) rules and capital requirements.
- Fraud and Cybersecurity: Rising concerns about check fraud and consumer scams were a central part of the discussion. Bowman’s recent Request for Information on fraud prevention was cited as a positive step toward addressing these challenges at a national level.
- Guidance and Compliance: Congressman Meuser highlighted his SAFE Guidance Act, which aims to ensure that nonbinding federal guidance documents are clearly identified and not treated as enforceable rules.
- Digital Assets: Stakeholders also addressed the increasing presence of digital financial tools, referencing the newly signed GENIUS Act, which provides a regulatory framework for stablecoins and emphasizes the role of banks in safeguarding consumer interests.
“This roundtable provided a valuable opportunity for local banks to share their perspectives directly with one of the nation’s top financial regulators,” said Meuser. “Our goal is to encourage a regulatory approach that supports innovation and local lending, while maintaining strong consumer protections.”
Congressman Mackenzie echoed the importance of community banks, stating, “They are critical to the success of small businesses and working families in Pennsylvania. Ensuring they can operate without unnecessary burdens is key to supporting long-term economic growth.”
The event concluded with a tour of Yuengling Brewery, recognized as the oldest operating brewery in the United States. Attendees were also treated to a lunch and informal conversation following the discussion.
Submitted Photos
