Washington, D.C. (May 3, 2022) — The Independent Community Bankers of America (ICBA) today released its legislative and regulatory policy objectives for 2022 during the ICBA Capital Summit. Developed and approved by ICBA volunteer community bankers, these resolutions will guide ICBA advocacy in the coming year and reflect its unique mission of creating and promoting an environment where community banks flourish.
"Recent ICBA polling conducted by Morning Consult found that 76% of Americans say banking with a locally based financial institution is important when determining where to bank," said ICBA Chairman Brad Bolton, president and CEO of Community Spirit Bank in Red Bay, Ala. “These 2022 policy resolutions will continue to guide ICBA as we advocate on behalf of the nation’s community banks so they can continue helping their communities thrive."
Approved by ICBA’s Policy Development Committee and board of directors, which is made up of community bankers from coast to coast, ICBA’s policy resolutions are:
Promoting a balanced and competitive financial services landscape for American consumers and businesses by:
- Improving community bank access to capital.
- Defending the bank charter.
- Supporting de novo community bank formation and mutual and savings institutions.
- Preserving payments access, choice, and governance.
- Opposing postal banking, FedAccounts, and the formation of new public banks.
- Urging reforms to tax-subsidized credit union and Farm Credit System policies.
Advocating common-sense and appropriately tailored laws and regulations for community banks related to:
- Accounting and auditing.
- Bank Secrecy Act and enforcement.
- Community bank climate change regulation.
- Consumer Financial Protection Bureau rules.
- The Current Expected Credit Loss model and LIBOR transition.
- IRS financial account reporting and tax policy.
- Publicly held community banks and Securities and Exchange Commission rules.
- Quarterly call reports and the supervisory environment.
- Regulatory capital and tiered regulation.
Championing fair and equitable access to the financial system related to:
- The government-sponsored secondary mortgage market.
- Banking cannabis-related businesses.
- Community development financial institutions and minority banks.
- The Community Reinvestment Act and fair lending.
- Credit reporting, deposit account services, and privacy.
- The Federal Home Loan Bank system.
- Financial inclusion for underserved and unbanked individuals.
- Mortgage lending regulation.
- National flood insurance.
- Rural America and farm bill programs.
- Small-business lending and loan data collection.
- Small-dollar loans.
Advancing responsible innovation related to:
- Core processors and third-party customer data access.
- Faster payments and payment cards.
- Technological innovation and deployment.
Protecting the safety and soundness of the financial system related to:
- Cryptocurrencies and central bank digital currency.
- Cybersecurity, data security, and fraud.
- Deposit insurance.
- Ending too-big-to-fail.
- Housing finance reform and regulating Fannie Mae and Freddie Mac.
- The independence of the federal banking agencies.
Strengthening the community banking industry’s political voice through:
- Community banker representation and membership.
- The Independent Community Bankers Political Action Committee.
- State and regional partner associations affiliated with ICBA.
For more information, see ICBA’s complete 2022 Policy Resolutions.
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 roughly 99 percent of all banks, employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding nearly $5.9 trillion in assets, over $4.9 trillion in deposits, and more than $3.5 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.