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ICBA Statement on Senate Approval of Rescue Package

Washington, D.C. (Oct. 1, 2008)––Cynthia Blankenship, chairman of the Independent Community Bankers of America (ICBA), and vice chairman and chief operating officer of Bank of the West, Grapevine, Tex., issued the following statement on the Senate’s approval of the Emergency Economic Stabilization Act of 2008, which is included in H.R. 1424.

“ICBA and our nation’s community banks thank the Senate for passing much-needed legislation to address the current liquidity and credit crisis and avoid damaging economic consequences for Main Street America. We now urge prompt approval of the legislation in the House and look forward to having the president quickly sign the measure into law. ICBA will continue to do everything it can to ensure this much-needed bill is enacted.

“ICBA especially thanks the leadership of Senate Majority Leader Harry Reid (D-Nev.), Senate Minority Leader Mitch McConnell (R-Ky.), Senate Banking Committee Chairman Christopher Dodd (D-Conn.) and Members Robert Bennett (R-Utah), Jack Reed (D-R.I.), and Bob Corker (R-Tenn.), Senate Budget Committee Ranking Member Judd Gregg (R-N.H.), Senate Finance Committee Chairman Max Baucus (D-Mont.) and Ranking Member Charles Grassley (R-Iowa), and many others who have been helpful in the process.”