Bipartisan bill advances many provisions from ICBA Plan for Prosperity
Washington, D.C (Dec. 5, 2017)—The Independent Community Bankers of America® (ICBA) today thanked the Senate Banking Committee for advancing bipartisan legislation to stimulate local economic growth by providing much-needed community bank regulatory relief. Incorporating numerous provisions from ICBA’s pro-growth Plan for Prosperity platform, the bipartisan Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) would provide community banks with relief from unnecessary burdens that prevent them from meeting the needs of their customers and communities.
“ICBA strongly supports the bipartisan regulatory relief package passed today by the Senate Banking Committee and thanks Chairman Mike Crapo and Sens. Joe Donnelly, Heidi Heitkamp, Jon Tester and Mark Warner for spearheading this agreement,” ICBA President and CEO Camden R. Fine said. “Community bank regulatory relief is needed to improve locally based lending and economic growth. We are pleased that the bill includes many provisions from ICBA’s Plan for Prosperity and thank all senators from both sides of the aisle who have contributed to this important legislation.”
The bipartisan bill includes ICBA-advocated provisions to:
Senate Banking Committee Chairman Mike Crapo (R-Idaho) and committee Democrats Joe Donnelly (Ind.), Heidi Heitkamp (N.D.), Jon Tester (Mont.) and Mark Warner (Va.) spearheaded the initial legislation that passed today. Joining as original co-sponsors were Sens. Bob Corker (R-Tenn.), Tim Scott (R-S.C.), Tom Cotton (R-Ark.), Mike Rounds (R-S.D.), David Perdue (R-Ga.), Thom Tillis (R-N.C.), John Kennedy (R-La.), Jerry Moran (R-Kan.), Jim Risch (R-Idaho), Tim Kaine (D-Va.), Angus King (I-Maine), Joe Manchin (D-W.Va.), Claire McCaskill (D-Mo.), Gary Peters (D-Mich.), and Michael Bennet (D-Colo.).
ICBA looks forward to continuing to work with the Senate, House and Trump administration on enacting this legislation into law.
The Independent Community Bankers of America®, the nation’s voice for more than 5,700 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 ICBA’s website at www.icba.org.