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PA Community Bankers Chairman Jon Conklin Urges House Panel to Support Banking Fund Legislation and Lending in the Pandemic The chairman of Pennsylvania’s leading community bank association told a state House panel on Tuesday September 15, that Pennsylvania’s community banks are resilient, strong and working hard to help communities and small businesses recover from the COVID-19 pandemic. Jon Conklin, President/CEO, Woodlands Bank and Chairman of the Pennsylvania Association of Community Bankers (PACB), testified Tuesday as part of a public hearing before the House Commerce Committee. In his prepared testimony, Conklin noted, “Since the outset of this crisis, our industry has banded together and stepped up in a huge way in an effort to lessen the severity of the initial, unexpected economic knockout punch delivered by the virus mitigation efforts.” “Community bankers now have turned their efforts towards federal legislation to simplify the PPP loan forgiveness process for small businesses. There is wide bipartisan support for legislation to reduce the forgiveness application to a single page for loans under $150,000. This would enable small-business owners to focus on their businesses and the safety of their employees and customers. And help get even more Americans back to work. At the state level, community bankers and the PACB also are working to protect and strengthen the banking system. For the last six months, the PACB and the other financial industry associations have worked with the Department of Banking and Securities and the Wolf administration on legislation to protect the state Banking Fund should economic conditions in the Commonwealth worsen.” Pending legislation, authored by Chairman Delozier, and previously introduced by state Rep. Mark Keller (RPerry/Cumberland Counties), would convert the state Banking Fund, and a resolution account, to trust funds to ensure and guarantee the continuation of examinations and regulation of financial institutions in furthering the safety and soundness of the banking industry in Pennsylvania and for its customers. During the past 18 months, two transfers have been made from the Banking Fund totaling $42 million to the General Fund and to supplement the budgets of other agencies not involved in the regulation of banking. “While these transfers occurred prior to the start of the current year, the explosive economic magnitude of the current pandemic is a sobering reminder that economic downturns can happen at any moment and it is in the interest of every banking consumer that the state Banking Fund be protected to ensure the department can do its job to ensure the safety and soundness of consumer financial services,” noted Kevin L. Shivers, president/CEO of the PACB.