FOR IMMEDIATE RELEASE
ICBA Thanks Treasury for Including Subchapter S Banks in TARP Capital Purchase Program
ICBA Instrumental in Release of Term Sheet
Washington, D.C. (January 14, 2009)—Camden R. Fine, president and CEO of the Independent Community Bankers of America (ICBA), today issued this statement following the Treasury Department’s release of a term sheet that grants Subchapter S corporation banks access to the Troubled Asset Relief Program’s (TARP) Capital Purchase Program (CPP).
“From the inception of the program several months ago, ICBA has consistently worked with and urged Treasury, Congress and bank regulators to allow all interested community banks access to the TARP so they can continue to lend in cities and towns throughout America and support our nation’s economic recovery. ICBA applauds Treasury for completing and releasing the term sheet that grants TARP CPP access to our country’s more than 2,500 Subchapter S corporation banks. Community banks remain essential to restoring economic vitality to communities across our nation. ICBA will continue its efforts to also secure a needed term sheet for mutual financial institutions interested in the CPP.”
For more information, visit www.icba.org.