Washington, D.C. (Jan. 20, 2021) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the inauguration of Joe Biden as the 46th president of the United States.
“ICBA and the nation's community banks welcome President Joe Biden and look forward to working with the new president, his administration and the 117th Congress during this historic time of both challenge and opportunity.
“ICBA and community banks across the nation are committed to advancing policies to benefit local communities throughout America. This is why our industry has a hard-earned reputation on both sides of the aisle as catalysts for pragmatic, bipartisan solutions to move our nation forward.
"As financial first responders during the COVID-19 pandemic, community banks accounted for more than 3.5 million Paycheck Protection Program loans. ICBA's bipartisan policy agenda offers common-sense policy reforms that will help restore broad-based and inclusive economic growth in urban, suburban, and rural communities nationwide."
The Independent Community Bankers of America creates and promotes an environment where community banks flourish. ICBA 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.
With nearly 50,000 locations nationwide, community banks constitute 99 percent of all banks, employ more than 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $5 trillion in assets, over $4.4 trillion in deposits, and more than $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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ICBA believes that the policy recommendations outlined in this letter will play a critical role in creating a robust post-pandemic recovery and charting a course for inclusive growth and a more competitive economy that serves small businesses and consumers.