FOR IMMEDIATE RELEASE
Chairman Frank Receives ICBA Main Street Hero® Award
Washington, D.C. (April 25, 2007)—The Independent Community Bankers of America (ICBA) honored Rep. Barney Frank (D-Mass), chairman of the House Financial Services Committee, with ICBA's Main Street Hero® Award for his leadership in supporting the community banking industry and communities nationwide.
"Rep. Frank's principled leadership as chairman of the House Financial Services Committee is making a difference not only for Main Street America, but for our entire nation" said James P. Ghiglieri, Jr., ICBA chairman and president of Alpha Community Bank, Toluca, Ill., in presenting the award today during ICBA's Washington Policy Summit in Washington, D.C. "ICBA and community banks nationwide are deeply appreciative of Rep. Frank's work to preserve the separation of banking and commerce, a public policy that is a foundation of our nation's financial system.
"As co-author of the Industrial Bank Holding Company Act of 2007 - the legislation that will permanently close the ILC loophole and keep commercial firms such as Wal-Mart and Home Depot from owning FDIC-insured industrial banks - Rep. Frank is a strong advocate for maintaining the diversity and safety and soundness of our financial system, and keeping it free of conflicts of interest. His advocacy benefits small businesses and families and helps keep local communities and economies strong."
ICBA created the Main Street Hero® award to recognize 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.