Logo: Independent Community Bankers of America - ICBA The Nation's Voice for Community Banks (R)
Username:
Password:

Graphic: Arrow Forgot password?
Graphic: Arrow Request Login
Contact ICBA Site Map Search ICBA
ArrowICBA Home
ArrowAbout ICBA
ArrowAbout Community Banking
ArrowAdvocacy
ArrowConsumer Education & Resources
ArrowEducation
ArrowConvention
ArrowIndustry Resources
ArrowMarketing Resources
ArrowMembership
ArrowPress Room
ArrowSocial Media
ArrowMain Street MarketĀ®
ArrowPublications





Members Only = Access Restricted
Last update: 04/23/14

ICBA News Release

ICBA Independent Community Bankers of America

Media Contacts
Aleis Stokes
(202) 821-4457

Jessica Etter 
(202) 821-4328

FOR IMMEDIATE RELEASE

ICBA Supports House Passage of Bill Easing Privacy Notice Burden

H.R. 749 Requires Notices to Consumers Only if Privacy Policies Change

Washington, D.C. (March 12, 2013)—The Independent Community Bankers of America® (ICBA) today said it supports the House of Representatives’ passage of legislation that would eliminate a legal provision requiring financial institutions to provide annual privacy notices to customers even when their policies have not changed. The Eliminate Privacy Notice Confusion Act (H.R. 749), which is a key plank in ICBA’s Plan for Prosperity legislative platform, would relieve community banks and other financial institutions from unnecessary paperwork burdens while minimizing consumer confusion.
 
“Requiring community banks to mail annual notices to customers when their policies have not changed provides no useful information to consumers and represents an unproductive and burdensome annual expense for financial institutions,” ICBA President and CEO Camden R. Fine said. “H.R. 749 will help save us a lot of time and resources, not to mention a few trees, that can be better used to serve Main Street customers. ICBA and the nation’s community banks thank Reps. Blaine Luetkemeyer (R-Mo.) and Brad Sherman (D-Calif.) for sponsoring this legislation and call on the Senate to quickly pass this important House measure.”
 
H.R. 749 would require certain financial institutions to send notices to their customers only in the event of a change in their privacy policies or practices. Identical legislation passed the House last year by voice vote under suspension of the rules, which is an expedited process used for non-controversial measures such as this.
 
As part of ICBA’s Plan for Prosperity legislative agenda, the measure is one of many proposals designed to ease excessive, redundant and costly regulations and help community banks dedicate more of their resources to promoting economic growth.
 
For more information, visit www.icba.org/advocacy.

About ICBA
The Independent Community Bankers of America®, the nation’s voice for nearly 7,000 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 www.icba.org.






ArrowsPrintable version



Button: Share

All contents copyright 2014 Independent Community Bankers of America. All rights reserved.
Privacy Statement | Legal Notice