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Solutions to Banking issue sought

(County representatives in Washington D.C.)…The trip is to find a solution to the banking issue.

Banks are abandoning border regions all along the U.S./Mexico Border. Gary Wyatt, County Director of Intergovernmental Relations and District 5 County Supervisor Ray Castillo are leading a contingent seeking solutions. They are scheduled to meet with Congressman Henry Cuellar, who serves on the Sub-committee on Homeland Security. They are looking to create legislation requiring banks to provide services to border communities. Locally, Rabobank, Chase and Bank of America have closed offices in Calexico, All said it was for business reasons. District One County Supervisor John Renison says the real reason is that the anti-money laundering law, anti terrorist law and the Dodd-Frank bill make it costly for banks to operate. He said the banks must process excessive amounts of paperwork to be compliant, causing additional staffing.