Common-sense regulatory relief will free up resources that can be used to make loans, promote economic growth and create jobs in communities across the nation.
Washington, D.C. (PRWEB) May 12, 2015
Independent Community Bankers of America® (ICBA) President and CEO Camden R. Fine released this statement following Senate Banking Committee Chairman Richard Shelby’s (R-Ala.) release of draft legislation to reduce the negative impact of excessive regulations on community banks and the customers and communities they serve.
“ICBA strongly supports provisions of Chairman Shelby’s draft legislation that would make common-sense reforms to community bank regulations to benefit local communities. The draft bill includes several important regulatory relief provisions from ICBA’s Plan for Prosperity platform, including less restrictive mortgage regulations, relief from excessive regulatory examinations and quarterly reporting requirements, and an exemption from the Volcker Rule.
“ICBA has repeatedly called on Congress to rein in community bank overregulation to support the flow of credit to local customers and communities. Common-sense regulatory relief will free up resources that can be used to make loans, promote economic growth and create jobs in communities across the nation. ICBA thanks Chairman Shelby for introducing these measures and strongly urges lawmakers to work together to take up and advance these important provisions.”
The Independent Community Bankers of America®, the nation’s voice for more than 6,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit http://www.icba.org.