A range of key issues, including bank supervision and regulation, consumer fraud prevention, digital asset integration, and the need for targeted oversight to support community banks, highlighted an Aug. 1 roundtable discussion led by U.S. Rep. Dan Meuser (R-PA).
“Pennsylvania’s banking sector reflects the strength and diversity of our national financial system — from rural community banks to regional institutions,” said Meuser, who represents Pennsylvania’s District 9. “We need supervision that encourages innovation, supports local economies, and protects consumers — without driving small banks out of the market.”
The congressman was joined at the roundtable by Federal Reserve Vice Chair for Supervision Michelle Bowman, Pennsylvania Secretary of Banking and Securities Wendy Spicher, U.S. Rep. Ryan Mackenzie (R-PA-07), and more than two dozen financial leaders from across the state.
“Vice Chair Bowman brings valuable experience as both a former community banker and state regulator, and her visit today reinforces our shared commitment to getting regulation right,” Meuser said. “That starts with streamlining bank applications, encouraging smart capital rules, and tailoring risk based on bank size and business activities. Not a one-size-fits-all approach.”
Held at the historic Yuengling Brewery in Pottsville, Pa., the roundtable focused on promoting a regulatory environment that supports responsible lending, protects consumers, and encourages financial innovation without imposing unnecessary burdens on banks that serve Main Street.
The roundtable was held in coordination with Duncan Campbell of the Pennsylvania Bankers Association and Kevin Shivers of the Pennsylvania Association of Community Bankers.
Attendees talked with Bowman about how federal policy can better reflect local realities — especially in areas such as regulatory tailoring, fintech competition, and fraud prevention.
Some of the key themes included the need for clear regulatory guidance, such as the Stop Agency Fiat Enforcement of (SAFE) Guidance Act, H.R. 4460, which Meuser sponsored July 16 to ensure that non-binding guidance is clearly labeled as such and not enforced as de facto regulation.
Another proposed bill in Congress also was discussed. The Financial Institution Regulatory Tailoring Enhancement Act, H.R. 3230, which Meuser cosponsored May 7 alongside two other Republicans to exempt banks under $10 billion from supervision and certain capital requirements of the Consumer Financial Protection Bureau.
The participants also examined issues around digital assets and fraud prevention, particularly around rising check fraud and consumer scams, among other topics.
“Consumer fraud is a top issue facing banks and their customers across the country,” noted Meuser. “Congress will continue to work in coordination with the administration to find real solutions to consumer fraud.”
The event concluded with a tour of Yuengling’s facility — America’s oldest operating brewery — and lunch.
“This roundtable was an opportunity to take a fresh look at how federal oversight can better serve the communities and institutions it’s meant to protect,” Meuser added. “I look forward to continuing to work with Vice Chair Bowman and other Trump administration regulators to deliver commonsense solutions that strengthen both our financial system and our local economies.”