ICBA Statement on Omnibus Spending Bill

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Independent Community Bankers of America® (ICBA) President and CEO Camden R. Fine issued this statement today following Congress’ release of omnibus spending legislation.

ICBA appreciates the work of Congress on securing some beneficial community bank victories and looks forward to continuing its work with lawmakers to advance additional relief provisions to ensure the health of America’s Main Street communities.

Independent Community Bankers of America® (ICBA) President and CEO Camden R. Fine issued this statement today following Congress’ release of omnibus spending legislation.

“Regulatory relief for the nation’s Main Street community banks is essential for economic prosperity in communities across our great nation. While the omnibus legislation introduced today includes welcomed tax extenders and cybersecurity information-sharing legislation, it very regretfully missed a real opportunity to bring more robust relief to community banks and the customers they serve.

“Following the passage of ICBA-backed beneficial regulatory relief measures in the highway law signed earlier this month, the omnibus legislation would have been the perfect opportunity to spur further relief and economic growth opportunities for homeowners and small businesses. ICBA strongly advocated the inclusion of policies to provide community banks much-needed relief from excessively onerous mortgage rules, Basel III capital requirements, Volcker Rule restrictions, regulatory examinations and quarterly reporting requirements as outlined in ICBA’s Plan for Prosperity.

“ICBA appreciates the work of Congress on securing some beneficial community bank victories and looks forward to continuing its work with lawmakers to advance additional relief provisions to ensure the health of America’s Main Street communities.”

About ICBA
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.

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Aleis Stokes
Independent Community Bankers of America
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