FOR IMMEDIATE RELEASE
ICBA Chairman: Our Number-One Priority Is To End Too-Big-To-Fail
Orlando, Fla. (March 20, 2010)—James D. MacPhee, who today becomes the 2010-2011 chairman of the Independent Community Bankers of America (ICBA), told community bankers gathered at the 2010 ICBA National Convention and Techworld in Orlando, Fla., that his number-one goal as ICBA chairman this year is to end the doctrine of too-big-to-fail.
“I pledge to promote the creation of a systemic-risk regulator, a separate systemic-risk premium and a systemic-risk fund,” said MacPhee. “I also pledge to do whatever I can to carry your message that regulatory overkill and forced write-downs on loans have had a negative effect on lending. I will also ensure that the Administration, Congress and regulators consider the impact of their decisions on community banks as a top priority.”
MacPhee said that he will not lose sight of these goals and will do his best to inspire others to do the same, especially young bankers. Additionally, MacPhee said that ICBA, the only national trade association that exclusively represents community banks, has been speaking throughout Washington for all of ICBA’s nearly 5,000 members.
“We are giving community banks the tools they need to lead our nation through the economic recovery, to restore confidence in our financial system, to back small businesses and spur job creation. Our convention’s them, ‘Empowering Main Street,’ is not just words, it is a reality,” said MacPhee.
To view MacPhee’s speech, visit www.icba.org.