FOR IMMEDIATE RELEASE
Community Bankers Gather for ICBA Washington Policy Summit
Rep. Bachus (R-Ala.), Deputy Secretary Wolin and Others to Speak
Washington, D.C. (May 2, 2011)-Today nearly 1,000 members of the community banking industry gathered at the JW Marriott Hotel in Washington, D.C., for the Independent Community Bankers of America (ICBA) annual Washington Policy Summit. During the meeting, which runs through May 3, community bankers will meet with their members of Congress to discuss key public policy issues facing Main Street community banks and hear from some of the nation's top policymakers.
"Bringing ICBA member community bankers to Washington to talk one-on-one with their representatives is key to ensuring the community bank perspective is heard loud and clear on top community bank issues such as the Tester/Corker interchange bill, the harsh regulatory examination environment, suffocating regulatory burden and reforming the housing-finance GSEs," said Sal Marranca, ICBA chairman and president and CEO of Cattaraugus County Bank, Little Valley, N.Y., and a participant in the event. "The community bankers attending ICBA's Washington Policy Summit want to make a difference at this critical time for Main Street-proving once again that community banks truly are the financial foundation of our nation and the economic engines that drive prosperity and well-being on Main Street."
During the ICBA Washington Policy Summit, ICBA community bankers 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 legislation to delay the Federal Reserve's implementation of the harmful Durbin debit interchange amendment so that there is more time to study the harsh impact it will have on consumers and Main Street.
- Sponsoring and supporting the Communities First Act while signaling to bank regulators that field examiners must take a more measured approach and maintain consistent standards in the examination process.
- Supporting legislation that gives bank regulators meaningful input into the rules that come out of the Consumer Financial Protection Bureau (CFPB) while also supporting efforts to replace the single director with a commission, create a realistic standard for Financial Stability Oversight Council veto of CFPB rules and require joint CFPB rulemaking that involves bank regulators.
- Supporting legislation to delay repeal of Regulation Q so that bank regulators can study the impact it will have on Main Street community banks and their customers and evaluate appropriate alternative solutions.
- Supporting efforts that halt the Farm Credit System (FCS) and Farm Credit Administration's (FCA) illegal powers, such as non-farm lending authorities, while also rejecting any proposed FCS legislative expansions as part of the next farm bill.
Community bankers who aren't able to be in Washington for ICBA's Washington Policy Summit are also getting involved and advocating for the same issues via ICBA's Virtual Policy Summit. Using ICBA's CBConnect website, community bankers have the opportunity to send a message to their members of Congress about issues that are pertinent to them and the economic health of their local communities.
Highlights of the ICBA Washington Policy Summit include remarks from Sen. Mary L. Landrieu (D-La.), Reps. Spencer T. Bachus III (R-Ala.) and Blaine Luetkemeyer (R-Mo.), Deputy Treasury Secretary Neal S. Wolin and Federal Reserve Bank of Kansas City President Thomas M. Hoenig.
For additional information about the ICBA Washington Policy Summit and ICBA's policy priorities, visit www.icba.org.