FOR IMMEDIATE RELEASE
ICBA Presents Emergency Hurricane Proposals
Nearly 50 recommendations would help community banks aid recovery
Washington, D.C. (Sept. 8, 2005) - The Independent Community Bankers of America (ICBA) yesterday presented nearly 50 recommendations to Congress that would help banks assist their customers, including thousands of small businesses, stabilize and rebound financially as quickly as possible from the devastating damage Hurricane Katrina caused to New Orleans and the Gulf Coast region.
ICBA's emergency recommendations for Congress, the Administration and banking regulators are designed to ensure the continued flow of cash and payments throughout the hurricane-affected communities as well as assist community banks and their customers in the short-term recovery. Some of ICBA's proposals address the immediate financial challenges. Others focus on long-term recovery needs.
"More than 100 community banks in the areas affected by Katrina are taking extraordinary measures to open their offices and serve their customers, and their ongoing efforts will be vital to the financial recovery and rebuilding of these devastated areas," said Camden R. Fine, ICBA's president and CEO. "Congress and the federal government need to act quickly to help banks with the many difficult challenges they face. These recommendations will help do that."
ICBA submitted its recommendations to members of the Senate Banking Committee and the House Financial Services Committee while participating in briefings addressing the needs of banks serving communities recovering from the hurricane.
"Community banks are essential to the immediate and long-term financial recovery efforts for all the communities affected by Hurricane Katrina," said Fine. "Federal lawmakers and regulators can and should take a number of actions to help these institutions put the residents and communities in the Gulf Coast region back on a sound financial footing."
A complete list of ICBA's recommendations is posted at www.icba.org/pressroom.