FOR IMMEDIATE RELEASE
OTS Director Reich Receives ICBA Main Street Hero® Award
Washington, D.C. (April 23, 2007)—The Independent Community Bankers of America (ICBA) honored John Reich, director of the Office of Thrift Supervision and a former community banker, with ICBA's Main Street Hero® Award for his leadership in supporting the community banking industry and communities nationwide.
"John Reich is a strong, effective and thoughtful regulator with a deep understanding of the important role that community banks play in Main Street America and, indeed, in the nation as a whole," said James P. Ghiglieri, Jr., ICBA chairman and president of Alpha Community Bank, Toluca, Ill., in presenting the award to Director Reich during ICBA's Washington Policy Summit held this week in the nation's capital. "With his roots in community banking, John knows firsthand how community banks support small businesses, drive economic growth, and provide leadership in countless communities across our nation." Prior to his public service, Reich enjoyed a 23-year career as a community banker in Illinois and Florida.
Reich has been a steadfast and passionate champion for public policy that recognizes the difference between large multi-national banks and community banks. Time after time, Reich has called attention to the counterproductive impact that regulatory burden has on community banks and their capacity to serve their communities. He led the interagency Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) effort to review all 129 banking regulations and recommend changes to eliminate or modify those that are outdated, unnecessary or overly burdensome.
"We appreciate your efforts and know, and are grateful that when you consider the issues of the day, you are mindful of how public policy decisions affect community bankers and the cities and towns we serve," said Ghiglieri of Reich.
ICBA's Main Street Hero® award recognizes public officials who promote the vitality of local communities by supporting the work of community banks and the important role they play in towns and cities across America.