FOR IMMEDIATE RELEASE
Community Bankers Gather for ICBA Washington Policy Summit
Senator Shelby (R-Ala.) and Treasury Assistant Secretary Barr to Speak
Washington, D.C. (April 25, 2010)—Today nearly 1,000 members of the community banking industry gathered at the Mayflower Hotel in Washington, D.C., for the Independent Community Bankers of America (ICBA) annual Washington Policy Summit. During the meeting, which runs through April 27, community bankers will meet with their members of Congress to discuss issues of public policy and financial regulatory reform and hear from some of the nation’s top policymakers.
“Now more than ever, the ICBA Washington Policy Summit is a tremendous forum for community bankers across the country to come to Washington and meet face-to-face with policymakers and their representatives on Capitol Hill to talk about issues that matter most, and at the top of that list is meaningful financial regulatory reform that ends too-big-to-fail,” said Jim MacPhee, ICBA chairman and CEO of Kalamazoo County State Bank in Schoolcraft, Mich. “Our nation’s nearly 8,000 community banks are part of the financial fabric that works, and this week community banks will have the opportunity to forcefully advocate on issues that are important to Main Street America—not Wall Street.”
During the ICBA Washington Policy Summit, ICBA member community banks and affiliated state community banking associations will remind Congress of the important role that community banks continue to serve in their communities, while also making specific recommendations, including:
- Supporting fair and meaningful financial regulatory reform that ends too-big-to-fail and levels the competitive playing field between Wall Street and Main Street;
- Increasing the prudential regulators’ role in consumer rule writing, exempting all community banks from extra consumer exams and opposing the creation of a new autonomous agency for consumer protection;
- Changing the FDIC assessment base to total assets minus tangible equity to better reflect a bank’s true risk to the FDIC Deposit Insurance Fund;
- Protecting the Federal Reserve’s supervisory role for state member banks, and preserving the thrift charter;
- Maintaining the separation of banking and commerce by permanently closing the ILC loophole;
- Ensuring that field examiners take a more measured approach and maintain consistent standards in the examination process so that community banks can continue to lend to their customers;
- Supporting the proposed $30 billion “Small Business Lending Fund” to promote community bank access to capital for small-business lending.
Highlights of the ICBA Washington Policy Summit include remarks from Sens. Richard Shelby (R-Ala.), Jack Reed (D-R.I.) and Jon Tester (D-Mont.), Treasury Assistant Secretary for Financial Institutions Michael Barr and political analyst Charlie Cook. Attendees will also have the opportunity to participate in several educational seminars and attend meetings at the Federal Reserve, FDIC, Office of the Comptroller of the Currency and Federal Housing Finance Agency.
For more information, visit www.icba.org.