Washington, D.C (Dec. 6, 2018)—Independent Community Bankers of America® (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the confirmation of Kathy Kraninger to head the Bureau of Consumer Financial Protection.
“ICBA and the nation’s community bankers congratulate Kathy Kraninger on her confirmation for director of the Bureau of Consumer Financial Protection. As relationship lenders, community banks are committed to the highest standards of consumer protection and have a built-in incentive to do right by their customers.
“ICBA looks forward to working with Director Kraninger on the bureau’s many important initiatives, including ensuring that regulations are tiered and proportionate to the smaller size and reduced risk of the nation’s community banks.”
The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. With more than 52,000 locations nationwide, community banks constitute 99 percent of all banks, employ more than 760,000 Americans and are the only physical banking presence in one in five U.S. counties. Holding more than $4.9 trillion in assets, $3.9 trillion in deposits, and $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.