FOR IMMEDIATE RELEASE
ICBA’s Fine Attends White House Signing of JOBS Act
Washington, D.C. (April 5, 2012)—Camden R. Fine, president and CEO of the Independent Community Bankers of America (ICBA), represented the nation's community banks at a White House ceremony today in which President Obama signed the Jumpstart Our Business Startups (JOBS) Act into law.
“ICBA has been the leading advocate for raising the SEC registration threshold for many years, and we thank President Obama for enacting it into law today by signing the JOBS Act. This provision will help community banks, which fuel over 60 percent of the nation’s small businesses, to continue to serve their small business customers and create more local jobs for hardworking Americans.
“By making it easier for community banks to raise capital without tripping costly registration requirements, the provision will enhance community banks’ ability to lend locally and will even permit some community banks that are already registered with the SEC to deregister, which will significantly reduce their overall regulatory burden. This will ultimately free many community banks up so they have the ability to make even more small business and consumer loans, creating economic growth and prosperity for their communities in cities and towns throughout the country.”