ICBA thanks the Senate Banking Committee for advancing legislation with key provisions that would make common-sense reforms to community banking regulations on behalf of local communities.
Washington, D.C. (PRWEB) May 21, 2015
Independent Community Bankers of America® (ICBA) President and CEO Camden R. Fine released this statement following the Senate Banking Committee’s markup of legislation to reduce the negative impact of excessive regulations on community banks and the customers and communities they serve.
“ICBA thanks the Senate Banking Committee for advancing legislation with key provisions that would make common-sense reforms to community banking regulations on behalf of local communities.
“The Financial Regulatory Improvement Act of 2015 includes many important regulatory relief provisions from ICBA’s Plan for Prosperity platform. These much-needed reforms apply to federal mortgage regulations, regulatory examinations, quarterly reporting requirements and the Volcker Rule to right-size rules for community banks and the customers they serve.
“ICBA has repeatedly called on Congress to rein in community bank overregulation to support the flow of credit to local customers and communities. The community bank provisions approved today would help free up resources that can be used to make good loans, promote economic growth and create jobs in communities across the nation. ICBA thanks Chairman Shelby and the rest of the committee for today’s markup and strongly urges the full Senate 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.