Editor, Gazette-Journal:

Virginia’s community banks have a vital role in ensuring a healthy economy by providing the necessary capital to build homes, businesses, schools and organizations. As leaders in our communities, local banks have invested in financial education, community revitalization and nonprofit organizations.

Chesapeake Bank provides financial services that individuals and small businesses need to prosper. Unfortunately, regulatory burdens have grown dramatically in recent years, hindering community banks’ abilities to help neighboring businesses grow and create jobs.  The thousands of pages of ill-fitting, one-size-fits-all rules make it increasingly cumbersome and, sometimes, even impossible for community-based banks to fully unleash the potential of our economy. Excessive regulations have negatively impacted the banking industry and our community, and it’s time to right-size federal regulation in a more individualized approach. 

S. 2155, ...