February 18, 2011
The proposal that would require all banks to register with the SEC and be subjected to further examination by them is unbelievably ill-advised. My particular bank provides the same products and services to municipalities as we do to every other customer. Furthermore, we are insured over and above FDIC coverage to include all deposits, whatever they may be. To add still another layer of oversight to community banks that have performed strongly throughout the recent financial debacles of money center banks and investment houses would be patently unfair and unnecessary.
Sincerely,
David G. Ahearn
Vice President
Greenfield Co-operative Bank
Greenfield, Massachusetts