House Financial Services Committee Republicans led by Rep. Denver Riggleman (R-Va.) called on federal regulators
to implement an 8 percent Community Bank Leverage Ratio, which was authorized by the S. 2155 regulatory relief law and would exempt more community banks than the 9 percent threshold proposed by the agencies.
"A CBLR of 8 percent would draw in some 600 additional community banks and support credit and economic development in thousands more communities across the country,” the lawmakers wrote.
The House letter follows an earlier Senate Banking Committee Republican effort led by Chairman Mike Crapo (R-Idaho) urging the bank regulators
to do right by community bankers and set an 8 percent CBLR. These lawmakers helped enact S. 2155 and want to ensure the bank regulators provide the community bank relief as Congress intended.
ICBA has consistently called on the agencies to lower the CBLR to 8 percent and led a grassroots campaign to maximize community bank comment letters on the proposal. The FDIC board of directors
is set to take up a final rule to implement community bank capital relief under the S. 2155 regulatory relief law 1 p.m. (Eastern time) Tuesday.