FDIC Federal Register Citations

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.

Sincerely,

Dennis Upchurch
President and CEO