WASHINGTON, DC -- President Barack Obama sits down with representatives of a dozen small and community banks at the White House this morning. They'll discuss the economy, lending to small businesses and financial regulation.
The session is a follow-up to a similar meeting Obama held last week with some of the nation's top bankers.
At that meeting, Obama implored bankers to increase lending to small businesses to help keep the economic recovery from faltering. He also pushed them to support a rewrite of financial regulations.
At today's meeting, the White House says Obama will again reiterate his message on lending, as well as discussing the housing foreclosure crisis "and the importance of passing financial reform to local communities."
Among those attending the meeting will be Paul P. Mello, the President and Chief Executive Officer of Solvay Bank. He is one of twelve bank executives representing some 7,000 community banks nationwide. “It is an honor to be chosen to represent the Main Street financial institutions as well as the Central New York Region. Community Bankers have a keen understanding of the local business landscape that they serve. This perspective is needed in the government’s efforts to getting our economy back on track,” said Mello.
Also scheduled to be at the meeting are Treasurey Secretary Tim Geithner, White House Economic Advisor Larry Summer, and Chair of the Council of Economic Advisors Christina Rome.
Information from the Associated Press was used in this report.
