FOR IMMEDIATE RELEASE
ICBA Statement on House Passage of H.R. 2056
Washington, D.C. (December 21, 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 House passage of H.R. 2056, sponsored by Rep. Lynn Westmoreland (R-Ga.). The Senate passed this important legislation last month.
“ICBA thanks the House for passing ICBA-advocated legislation that will help identify solutions to the oppressive exam environment that our nation’s more than 7,000 community banks continue to face. Community banks are common-sense lenders that take great pride in serving the needs of their customers and communities—many of which have done so for over a hundred years. However, the pendulum has swung too far in the direction of overregulation, which is stifling economic growth.
“The legislation passed by the House will address many of the concerns voiced by ICBA by requiring much-needed studies that show the effect of regulations on bank failures and the exam environment.”
For more information, visit www.icba.org.