From Harford County government:
Harford County Executive David R. Craig has announced the formation of a Banking and Finance Commission. The Commission, which will be temporary in nature, was established by Executive Order pursuant to the Harford County Code.
“I am pleased to announce a Banking and Finance Commission to assist both county government and our business partners, in finding ways to help improve business access to capital markets,” County Executive Craig stated. “BRAC has created a demand for housing and commercial development in Harford County as well as the Baltimore Metropolitan Region. The Banking and Finance Commission will be studying the regulatory banking practices that may be preventing businesses from accessing the capital they need to succeed in today’s economy,” Craig remarked.
Former Delegate and State Senator Donald Fry, the President of the Greater Baltimore Committee, has been tapped by County Executive Craig to chair the Commission.
Fry will help coordinate the work of the 22 member Commission. Members of the Banking and Finance Commission will be representative of the Harford County and Baltimore area banking industry, commercial and residential real estate businesses, area business owners representing small and medium sized businesses, regional economic development organizations and staffed by the Harford County Office of Economic Development.
“Establishing a Banking and Finance Commission will help both Harford County and our surrounding neighbors take full advantage of the opportunities presented by BRAC, and identify barriers that are potentially stalling economic recovery in our region,” stated County Executive Craig.
County Executive Craig has tasked the Commission with the following:
• Review of the current economic climate;
• Review of unemployment and projections for job growth;
• Examine the current regulatory environment to determine where the process may be enhanced;
• Review the bank examination process and make recommendations that can improve the outcomes of this process;
• Review loan defaults within the region that our banking institutions operate;
• Examine how loan classifications are impacting our financial institutions’ ability to make new loans, including personal loans and mortgage loans;
• Review loan concentrations and ascertain how the regulatory process is impacting local banks;
• Identify case studies where business and projects have been stifled due to lack of access to capital;
• Take testimony from area business leaders on the challenges they are facing;
• Identify if there is a disconnect between business, the banking industry, and federal regulators; and,
• Make recommendations on how business, banks, and federal regulators can best work together to allow greater access to capital markets.
The Banking and Finance Commission is charged with submitting its recommendations to the County Executive by January 2011. The County Executive along with members of the commission will present the commission’s findings to state legislative leaders, congressional representatives, and federal regulators.
Donald C. Fry (Chair)
President & CEO
Greater Baltimore Committee
Philip E. Logan President,
CEO & Chairman of the Board
Slavie Federal Savings Bank
John H. Cain
Senior Vice President
Deborah Smith Williams
Senior Vice President
Betty Ann Kloch
President and CEO
Economic Alliance of Greater Baltimore
Greater Harford Committee
Eric E. McLauchlin, Esquire
Gessner, Snee, Mahoney & Lutche, P.A.
Chair, Economic Development Advisory Board
Bob Ward Development
James “Jim” Tristani
Correct Rx Pharmacy
Elliot D. Kleinman
Director of Corporate Operations
Citrus and Allied Essences, Ltd.
Kleins ShopRite of Maryland
Vice President of Finance
St. John Properties, Inc.
Clark Turner Homes
Bill Vanden Eynden
Donohue Hart Associates
Simply Grande Home Furnishings
U.S. Senator Barbara Mikulski
U.S. Senator Benjamin L. Cardin
Congressman Dutch Ruppersberger