ICBA Capital Summit Attendees Pressing for Reforms to Help Local Communities
Washington, D.C. (April 29, 2019)
—Community bankers from all corners of the country are in Washington this week for meetings with lawmakers as part of the Independent Community Bankers of America® (ICBA) 2019 Capital Summit. Representing the nation’s more than 52,000 community banking locations, attendees will advocate reforms to expand economic opportunity in local communities.
In addition to congressional meetings, participants will hear remarks from Senate Banking Committee Chairman Mike Crapo (R-Idaho), House Financial Services Committee Chairwoman Maxine Waters (D-Calif.), FDIC Chairman Jelena McWilliams, and ICBA President and CEO Rebeca Romero Rainey. Community bank innovation will continue to be a big theme at the event, with a panel discussion on community bank-fintech partnerships. House Financial Services Committee member French Hill (R-Ark.), Hunton Andrews Kurth LLP Partner Heather Archer Eastep and ICBA Services Network Chief Operating Officer Kevin Tweddle will be part of the discussion led by ICBA Chairman and President and CEO of Zachary Bancshares Inc. Preston Kennedy.
“As the nation’s most trusted lenders, community banks are in Washington to advocate pro-growth policies that will help them promote economic opportunity for their customers and communities back home,” Kennedy said. “We look forward to meeting with policymakers this week on common-sense reforms based on principles that everyone can agree on.”
In meetings with members of Congress, community bankers will be advocating:
- regulatory relief through ICBA’s Community Focus 2020: The Community Bank Agenda for Expanding Economic Opportunity,
- Bank Secrecy Act modernization that better targets financial crimes,
- a federal safe harbor for banking legal cannabis-related businesses,
- consistent data security standards for all participants in the payments and financial systems,
- ending competitive advantages for credit unions and the Farm Credit System, and
- housing-finance reform that preserves secondary market access for community bank lenders.
“With more than 52,000 locations in urban, suburban and rural communities, community banks comprise 99 percent of U.S. banks and have a presence in every congressional district,” Romero Rainey said. “As the source of 60 percent of the nation’s small-business loans and 80 percent of agricultural loans, community banks want to ensure economic prosperity reaches into every corner of our country through common-sense, bipartisan policies that promote a robust, fair and competitive financial system.”
For more information and the complete agenda, visit www.icba.org/summit19.
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.
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