Washington, D.C (April 9, 2018)—Community bankers from across the nation are in Washington this week to advocate immediate passage of meaningful regulatory relief as part of the Independent Community Bankers of America® (ICBA) 2018 Capital Summit. Representing the nation’s nearly 5,700 community banks in meetings with members of Congress, attendees will also discuss modernizing the Bank Secrecy Act, ending credit union tax subsidies, passing a new farm bill, and reforming the housing-finance system.
In addition to meeting with their lawmakers, community bankers will hear remarks from Consumer Financial Protection Bureau Acting Director Mick Mulvaney, Comptroller of the Currency Joseph Otting, Senate Banking Committee Financial Institutions Subcommittee Chairman Patrick Toomey (R-Pa.), pollster and political analyst Kristen Soltis Anderson, and Conference of State Bank Supervisors President and CEO John Ryan.
“Community banks support localized economic growth one loan at a time, but excessive and unnecessary regulation is stifling their ability to meet the needs of local communities,” said ICBA Chairman Timothy K. Zimmerman, CEO of Standard Bank in Monroeville, Pa. “With at least one community bank in every congressional district, community bankers are in the nation’s capital to urge their representatives to enact policies to promote stronger economic growth, jobs and prosperity in communities nationwide. We are in Washington to demand enactment of much-needed regulatory relief.”
In meetings with Congress, community bankers will advocate:
- immediate passage of regulatory relief legislation inspired by ICBA’s Plan for Prosperity platform given the strong momentum from the bipartisan Senate passage of S. 2155, which the president pronounced he would sign into law,
- modernizing the Bank Secrecy Act to more effectively target money laundering and terrorist financing while reducing community bank burden and expense,
- ending the unjustified credit union tax subsidies and the National Credit Union Administration’s unreasonable actions to expand credit union activities beyond their statutory limits,
- passing a new farm bill that supports commodity prices, enhances USDA guaranteed-loan programs, preserves crop insurance funding, and returns the Farm Credit System to its primary mission of serving bona-fide farmers and ranchers, and
- advancing housing-finance reform that builds on what is working today and preserves secondary market access for community bank mortgage lenders.
For a full list of ICBA’s policy priorities and more information about community banks, visit www.icba.org/summit18.
The Independent Community Bankers of America®, the nation’s voice for nearly 5,700 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.