RICKETTS URGES PRUDENTIAL REGULATORS TO IMPROVE THE ABILITY OF SMALLER BANKS TO PARTICIPATE IN THE MORTGAGE MARKET AT SENATE BANKING HEARING

WASHINGTON, Feb. 27 -- Sen. Pete Ricketts issued the following press release:

Yesterday, U.S. Senator Pete Ricketts (R-NE) participated in a Senate Banking Committee hearing where he advocated for regulatory relief for Nebraska's financial institutions through bank capital modernization, emphasizing the critical role of relationship-based mortgage lending in localand rural communities. During the hearing, Ricketts focused on the negative impact of the current Basel III Mortgage Servicing Assets (MSA) capital requirements on smaller financial institutions. These capital rules directly impact their ability to originate new mortgage loans and retain mortgage servicing for existing customers.

"In Nebraska, our banking system is built around r...