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ICBA Praises Confirmations of New Banking Agency Chiefs

Washington, D.C. (August 1, 2005) - Camden R. Fine, president and CEO of the Independent Community Bankers of America (ICBA), issued the following statement regarding the U.S. Senate confirmations of three pivotal federal banking agency posts: John Dugan as comptroller of the currency, John Reich as director of the Office of Thrift Supervision, and Martin Gruenberg as vice chairman of the Federal Deposit Insurance Corporation:

"President Bush has wisely chosen and the Senate has wisely confirmed three highly talented and experienced people to help lead and energize our nation's federal banking agencies. We congratulate Mr. Dugan, Mr. Reich and Mr. Gruenberg on their appointments. ICBA, and community bankers throughout our country, look forward to working with them on a wide range of issues, most especially on relieving the excessive regulatory burden on community banks and in maintaining fair competition in our truly diversified financial services system."