In his post for The Hill’s Congress blog, Consumer Bankers Association President/CEO Richard Hunt says the race to the White House is only one piece of the puzzle.
Hunt, whose association represents the retail banking industry, including the nation’s largest bank holding companies as well as regional and super community banks, wrote: “Unless the next commander-in-chief makes thoughtful appointments to lead our most critical federal agencies, and Congress gets on the same page, our nation will not be freed from this new normal of extreme partisan politics and policies.”
But where the government fails, Hunt says, its partners in the industries can help.
“There have been positive developments over the last several years, but, at the granular level, many Americans are still hurting,” he wrote. “Stagnant wages and a slow economic recovery have driven a deeper divide. It’s as if the American Dream has been redefined from ‘having it all’ to ‘simply getting by.’
“Today’s problems will persist if some of our government leaders continue to ignore ideas and solutions being proposed by experts, such as those in the financial services industry,” Hunt continued. “From private student lending options with lower interest rates, to innovative financial services products that meet the needs of the underbanked and unbanked population, we have plenty of options. These options, however, will never reach their full potential unless federal agencies incorporate those who see the possibilities.”
Why is that? Read the complete blog post: “Beyond the White House: Where the real stakes lie.”
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