Jayson Williams

My name is Jayson Williams, and I’m grateful for the opportunities I’ve been given to start my own business, BreakGround. We are a minority-owned community development firm specializing in mixed-use development. That includes creating new homes for families in need of them. Now, having had the chance to build generational wealth for my own family through entrepreneurship, I now look to pay it forward by contributing to helping Maryland families do the same by building their forever homes. The new capital requirements rule that was recently introduced by regulators at the Federal Reserve, FDIC, and OCC will help support both businesses and homeowners alike. The rule aims to expand access to affordable credit by getting rid of unnecessary regulations and recalibrating risk measures. Those changes will help make it easier for small businesses like mine to obtain access to more affordable capital. Banks will be able to offer more competitive lending options, which means lower borrowing costs, more accessible credit lines, and greater financial flexibility. This will allow entrepreneurs to hire new staff, finance new equipment, and keep their operations running smoothly. It also allows us to be better prepared for any unexpected expense. Perhaps most significantly, this proposal has the potential to reshape the mortgage market entirely. Years of heavy capital burdens drove traditional banks out of home lending, leaving nonbank specialists like Rocket Mortgage with little incentive to compete on price. By recalibrating capital requirements, this proposal invites banks back to the table. This will restore the competition that keeps mortgage rates honest and gives homebuyers more affordable choices as they look for their forever home. I appreciate the efforts being made to access credit at lower costs. Please finalize this regulation as soon as you can.