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Tiered & Proportionate Regulatory Relief for Community Banks

In early 2013, ICBA developed and launched a comprehensive and flexible platform of regulatory relief legislation called The Plan for Prosperity. The Plan was presented to community bank allies in Congress with the goal of achieving targeted regulatory relief for community banks through tiered and proportionate adjustments to one-size-fits-all regulations implemented in the wake of the most recent financial crisis.

The Plan for Prosperity has been very well-received throughout the current Congress, resulting in the introduction and advancement of numerous bills that recognize the demand for tiered and proportionate regulations. The Plan has also been endorsed by 38 ICBA state and regional partner associations representing the community banking industry. However, this Congress is rapidly drawing to a close, and community bankers need to keep the pressure on their lawmakers to enact as many of the previously advanced provisions as possible to ensure that community banks can fully participate in powering our nation’s economic recovery in their respective communities.

Read ICBA’s Letter to Congressional Leadership Urging Tax and Regulatory Relief During the “Lame Duck” Session

ICBA has pushed hard to fully-implement the Plan, and it has subsequently been endorsed by 38 ICBA state and regional partner associations representing the community banking industry and lead to the introduction of 23 bills in the 113th Congress. However, due to the dwindling number of active legislative days remaining in this Congress, it is increasingly important that community bankers keep pressure on their lawmakers in order to see meaningful regulatory relief advance through both chambers of Congress and ultimately enacted into law.

House Objectives:

Contact Congress Now

The Plan for Prosperity-inspired CLEAR Relief Act (H.R. 1750) has garnered over 175 bipartisan cosponsors in the House as of the beginning of the “Lame Duck” session. Community banks should be pushing hard on their lawmakers for further action on this important regulatory relief legislation, as well as these Financial Services committee-passed bills:

  • H.R. 4042, a bill to delay the effective date of the Basel III rule with respect to MSAs for nonsystemic banking institutions and require the banking agencies to conduct a joint study of the appropriate capital treatment of MSAs
  • H.R. 5148, creating an exemption from the higher risk mortgage appraisal requirements for loans of $250,000 or less provided they are held in portfolio by the originator.

Ensure that your lawmaker has heard from your bank and understands what is at stake for your community and your bank if meaningful regulatory relief is not achieved.

Senate Objectives:

Contact Congress Now

The Senate needs to capitalize on House regulatory relief progress to date by passing its version of the Plan for Prosperity-inspired CLEAR Relief Act (S. 1349) if meaningful relief is to be realized. Community bankers must continue to press their Senators to take up this much-needed legislation. Additionally, the Senate should act swiftly to take up and pass several other House-passed bills, including:

  • S. 635, a bill bipartisanly cosponsored by 75 Senators to provide privacy notice relief
  • S. 872, which aims to create SEC registration and deregistration parity for thrift holding companies via a correction to the 2012 JOBS Act.

Plan for Prosperity Resources

ICBPAC, a top financial advocacy political action committee, contributed $1.8 million to federal candidates for the 2011-12 election cycle, strengthening the community banking industry’s reputation in Washington. Supported by thousands of community bankers, ICBPAC is a vital part of Be Heard.

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