ICBA spotlighted how community banks are responding to the COVID-19 emergency in a letter to House Financial Services Committee Chairwoman Maxine Waters (D-Calif.).
Responding to a request from Waters, ICBA said community banks are reassuring the public that their savings are insured and secure while evaluating loan modifications for troubled borrowers with support from regulators.
ICBA noted that it is urging policymakers to enact emergency programs that would provide support for businesses and households. The association also said it supports Cybersecurity and Infrastructure Security Agency guidance providing that financial transactions and access to banking and lending services are “essential services” that must remain available to the public.
More information on ICBA's response to the coronavirus pandemic is available on its Crisis Response and Preparedness Center.