(LoanSafe.org) Press Release: Arlington, VA – Cathleen H. Nash of Citizens Republic will testify on behalf of the Consumer Bankers Association (CBA) today during a joint hearing of the US House of Representatives Small Business & Financial Services Committees.
Nash, a member of CBA’s board of directors, will address the issues surrounding small business and commercial real estate lending. As president and CEO of Michigan-based Citizens Republic, Nash has more than 20 years of experience in banking. Citizens Republic is one of the 50 largest bank holding companies headquartered in the United States.
“The fundamentals of capacity and willingness to repay must be established once again as a hallmark of lending activity. This will happen, one borrower at a time, by bankers who know and understand them,” Nash stated in prepared testimony for the hearing.
“In my positions with Citizens Republic and CBA, I see that the challenges we face in serving our clients, protecting our depositors and navigating through the current economic climate have been magnified,” Nash stated.
Recognizing the primary job of regulators is to protect bank’s depositors, and how requiring banks to hold more capital is the best way to do that, Nash explained how every dollar of capital required to carry to cover a potential bad loan, “is a dollar that cannot be lent to a business owner. It is a dollar that cannot help a community recover and grow by adding jobs.”