LITTLE ROCK, Ark., April 26, 2011 /PRNewswire/ -- Addressing the Annual Meeting of the National Petroleum Energy Credit Association in San Diego on April 18th, J. French Hill, CEO of Delta Trust & Bank stated, "Federal regulatory costs are depleting the 'animal spirits' of American business."  In his address to the national association, which included a review of current U.S. Monetary, Regulatory and Fiscal policy, Hill expressed his concerns about the Wall Street Reform and Consumer Protection Act of 2010, commonly referred to as the "Dodd-Frank" bill.

According to Hill, the legislation is negatively impacting both businesses and consumers by raising the cost of home mortgages, as well as for basic checking accounts; eliminating Trust Preferred Stock as a capital source for banks, and creating 240 new regulations for bank compliance.  He further noted that the increase in reserves and capital required by bank examiners is creating an obstacle to lending:  "While the government calls for greater bank lending, their own policies and actions retard its potential growth.  Regulatory costs already estimated to be in excess of $1 trillion are further exploding through recently enacted rules in labor, the environment, energy and banking – not to mention the immense complexities in healthcare reform."

Hill's address was delivered the same day David Beers, head of Sovereign Risk at Standard & Poors, placed the U.S. credit status on "negative outlook." Hill suggested that President Obama view the S&P announcement as a call to action regarding his leadership in making needed repairs to the long-range federal budget.

Prior to becoming CEO of Delta Trust & Bank, Hill served in the first Bush Administration as Special Assistant to the President and as Executive Secretary to the President's Economic Policy Council, composed of members of the Cabinet.  Prior to joining the White House staff, he served as Deputy Assistant Secretary of the Treasury for Corporate Finance.

Delta Trust & Bank, founded in 1999 in Little Rock, Arkansas, is a community banking company that has a strategic niche in trust, investments and wealth management.  The company has been ranked at the top of its banking peer group in non-interest income as ranked by Sheshunoff & Company, bank consultants.  Delta Trust is one of the privately-owned banks in the U.S. that refused to take TARP funds.  For more information about Delta Trust & Bank, go to:  www.delta-trust.com.

For more information, contact:
Malina Vibhaker
Delta Trust & Bank
(501) 907-0333

SOURCE Delta Trust & Bank