TBA board member Hazel Davis testifies to Congress

The U.S. House Committee on Small Business, chaired by Representative Roger Williams (R-TX), held a hearing in June to examine the state of small businesses in America amid unprecedented economic challenges and uncertainties. Hazel Davis, a board member of the Texas Bankers Association and chair of the Texas Bankers Foundation, testified on behalf of community banks serving small businesses.

“Through proactive engagement and targeted investment, we have worked tirelessly to rebuild trust and forge lasting partnerships,” Davis said. “However, escalating regulatory burdens and compliance costs threaten our ability to continue these efforts as every dollar diverted to regulatory compliance is a dollar less reinvested into our community businesses.”

Rep. Dan Meuser (R-PA) asked Davis if rules like Sec. 1071 would harm small business lending. “It will absolutely harm it. Plain and simple,” she responded. “For every compliance officer we have to hire to manage those data points and the examination ramifications, that’s one fewer banker we have out in our community serving our customer needs.”

Davis concluded her testimony by expressing her honor in representing TBA and community bankers in Washington. “When small businesses thrive, so do our communities,” she said. Williams thanked Davis for her testimony, ensuring the voices of small businesses and their supporting banks are heard.