Washington, D.C. (May 12, 2017)—Independent Community Bankers of America® (ICBA) President and CEO Camden R. Fine today issued the following statement on remarks from FDIC Vice Chairman Thomas M. Hoenig.
“ICBA and the nation’s community bankers strongly agree with Vice Chairman Hoenig that excessive regulatory burdens have exacerbated the dangerous consolidation of the banking industry into fewer and fewer hands. As Hoenig said today, this regulation-driven consolidation poses risks to the financial system, the federal safety net and the economy—demanding a response from Washington.
To combat excessive consolidation and concentration of resources in the largest and most systemically risky financial firms, ICBA advocates comprehensive regulatory relief for community banks. ICBA’s Plan for Prosperity legislative platform and new ‘Roadmap to Economic Growth and Prosperity’ white paper offer solutions to bolster community banking, the establishment of de novo institutions, and locally based economic and job growth.”
The Independent Community Bankers of America®, the nation’s voice for more than 5,800 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit ICBA’s website at www.icba.org.