FOR IMMEDIATE RELEASE
ICBA Statement on Legislation Introduced by Reps. Capito and Maloney
Washington, D.C. (November 18, 2011)—Sal Marranca, Independent Community Bankers of America (ICBA) chairman and president and CEO of Cattaraugus County Bank, Little Valley, N.Y., released this statement following the introduction of the Financial Institutions Examination Fairness and Reform Act (H.R. 3461), by House Financial Services Financial Institutions Subcommittee Chairman Shelley Moore Capito (R-W.Va) and Ranking Member Carolyn Maloney (D-N.Y.).
“We thank Reps. Capito and Maloney for introducing bipartisan legislation and setting forth a process to address the harsh examination environment, which continues to be a serious problem and top concern for many of the nation’s more than 7,000 community banks. ICBA continues to call for an end to overzealous exams by regulators so that community banks can do what they are meant to do—lend to their local customers, and ultimately, aid economic recovery. Excessively tough community bank exams result in unnecessary loss of earnings and capital, which impairs community bank lending and their ability to support economic growth within their local communities.
“ICBA looks forward to working with Reps. Capito and Maloney and members of the House Financial Services Committee as the bill moves through the legislative process. Ensuring that the harsh exam environment is adequately addressed for the needs of America’s community banks is of the utmost importance to ICBA.”
For more information, visit www.icba.org.