Contreras-Sweet says two-tiered banking system vital, proportionality should apply to local, community banks
WASHINGTON, D.S., 10 October 2014 – WSBI welcomed Mrs Contreras-Sweet, administrator of the U.S. Small Business Administration, to the WSBI board meetings organised in Washington D.C. at the occasion of the World Bank/IMF Meetings.
The Small Business Administration's profile has been raised by President Obama to cabinet level. Mrs. Contreras-Sweet pointed out that small businesses in America creates two out of every three net new jobs and represent half of the private workforce. Mrs. Contreras-Sweet also noted that a two-tiered banking system is vital and that proportionality should apply to local and community banks that have a strong role to play.