Secretary of the Treasury Scott Bessent, Comptroller of the Currency Jonathan Gould Highlight Community Bank Comeback at Arizona Bankers Association Roundtable

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WASHINGTON—Secretary of the Treasury Scott Bessent and Comptroller of the Currency Jonathan V. Gould today highlighted the Trump Administration's efforts to alleviate regulatory burden on community banks, drive economic growth on Main Street, and protect America’s financial system from illicit activity during remarks at the Arizona Bankers Association Roundtable.

Comptroller Gould traveled with Secretary Bessent to meet with Arizona manufacturers, business leaders, and community bankers to discuss the Trump Administration's pro-growth economic agenda and efforts to strengthen the integrity of the U.S. financial system.

Secretary Bessent remarks can be found here.

Excerpts from Comptroller Gould’s remarks are below. His full statement can be found here.

Alleviating Regulatory and Supervisory Burdens on Community Banks

Washington has subjected community banks to a regulatory and supervisory framework built for the largest and most complex financial institutions. The result since the Dodd-Frank Act has been that more than half of the community banks in the United States have disappeared. At the OCC, we have refocused supervision on material financial risk. That means spending less time on activities that do not improve safety and soundness and more time on the risks that actually matter.

Driving economic growth on Main Street

Community banks hold only a fraction of the banking industry's assets but account for an outsized share of small business and agricultural lending. President Trump's economic agenda and Secretary Bessent's vision of Parallel Prosperity depend on a strong community banking system. A Main Street comeback requires a community bank comeback.

Protecting America’s financial system from illicit activity

As a border state, it [Arizona] has seen how the consequences of open-border policies can extend beyond immigration and affect local communities, the economy, and ultimately the financial system.

As Secretary Bessent has said, economic security is national security. Banks have an important role to play. They need to know their customers, understand the risks they face, and make sound decisions based on the facts of each relationship. Under President Trump and Secretary Bessent’s leadership, we are protecting our financial system from those who would abuse it and strengthening it for the Americans who depend on it. And community banks are essential to building it.

Related Links

• Secretary Bessent Remarks
• Comptroller Remarks (PDF)