Washington, D.C. (Jan. 24, 2013)—The Independent Community Bankers of America (ICBA) today released this statement following President Barack Obama’s renomination of Richard Cordray for director of the Consumer Financial Protection Bureau (CFPB).
“ICBA congratulates Director Cordray for being renominated to lead the CFPB and encourages him to continue to consider the unique role of the nation’s community banks as the bureau further shapes financial regulation. Cordray has repeatedly reached out to community banks to better understand how the bureau’s regulations affect our industry, and the CFPB has worked to ensure that new mortgage regulations allow these institutions to continue meeting the needs of their customers and communities.
“ICBA continues to support smart regulations that recognize that community banks are common-sense lenders that did not contribute to the financial crisis and should not face daunting regulatory challenges that inhibit access to credit on Main Street.”
The Independent Community Bankers of America®, the nation’s voice for more than 7,000 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 www.icba.org.