From: Dennis Upchurch [mailto:dennis.upchurch@cbsbank.net]
Sent: Monday, April 12, 2004 4:18 PM
To: Comments
Subject: EGRPRA Review of Consumer Protection Lending Related Rules
Dear Sir or Madam:
As a community banker, I welcome the regulator’s effort on
the problem of regulatory burden. We work hard to establish the
trust and confidence with our customers and all too frequently
consumer protection rules interfere with our ability to serve our
customers.
The community banking industry is slowly being crushed under the
cumulative weight of regulatory burden, something that must be
addressed by Congress and the regulatory agencies before it is
too late. This is especially true for consumer protection lending
rules. Though well intentioned, these rules unnecessarily increase
costs for consumers and prevent banks from serving customers. The
cumulative impact of consumer lending rules, by driving up costs
and slowing processing time for loans from legitimate lenders,
helps create a fertile ground for predatory lenders.
I believe it’s time to acknowledge that customer protection
regulations are not only a burden to banks but are also a problem
for consumers.
