The heads of the American Bankers Association and Independent Community Bankers of America met with President Donald Trump Thursday to discuss financial industry regulations.

ABA CEO Rob Nichols and ICBA CEO Cam Fine were joined by board members from both groups at the meeting, which was held at the White House. Among the topics discussed was the Consumer Financial Protection Bureau, a new federal agency created in the wake of the 2008 financial crisis, and the regulation of small businesses and mortgage loans.

"The diversity and strength of our banking industry is the envy of the world," Nichols said in a statement. "However, in the current regulatory environment, highly prescriptive rules mean that mortgages don't get made, small businesses don't get created and banks find it more difficult to make the loans that drive job creation. This is particularly true for community banks."

While Trump railed against Wall Street and big banks during the election, the president has remained largely on friendly terms with the financial services industry. One of his first acts was to sign an executive order mandating a review of the Dodd-Frank Act, a law passed in the wake of the 2008 financial crisis. He also appointed hedge fund manager Steve Mnuchin as treasury secretary. Mnuchin attended Thursday's meeting. http://bit.ly/2lLbHyu

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