FOR IMMEDIATE RELEASE
ICBA Thanks Treasury for Including Mutual Institutions in TARP Capital Purchase Program
ICBA Instrumental in Release of Term Sheets
Washington, D.C. (April 7, 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 term sheets that allow mutual institutions to have access to the Troubled Asset Relief Program’s (TARP) Capital Purchase Program (CPP).
“From the inception of the program last year, 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 term sheets that allow mutual institutions to have access to the TARP CPP. Even during these challenging economic times, community banks remain well-capitalized, common-sense lenders that continue to serve their customers. Community banks are essential to restoring economic vitality to communities across our nation.”
For more information, visit www.icba.org.