ICBA leading push on ILC, overdraft, credit union bills

June 09, 2022

With several key community banking policy issues coming up for a vote in the coming days, ICBA is urging community bankers to speak out while it engages lawmakers in Washington.

House Markup: The House Financial Services Committee is set to convene Tuesday to consider an ICBA-supported bill to close the industrial loan company loophole as well as several ICBA-opposed bills. As ICBA told the committee in a letter on Wednesday, the anti-community banking measures would expand overdraft restrictions, restrict the adoption of real-time payments, and harm small-business lending and communications.

Targeted Grassroots: With the committee set to consider these critical bills next week, ICBA is urging community bankers with representatives on the committee to weigh in immediately via ICBA’s Be Heard resource center. ICBA offers these community bankers a customizable action alert to help them reach their congressional offices.

Credit Union Bill: Meanwhile, ICBA continues encouraging community bankers nationwide to urge their lawmakers to oppose separate legislation to expand credit union fields of membership and commercial lending powers.

Rules Committee Vote: With the House Rules Committee planning to meet next week to consider the ICBA-opposed Expanding Financial Access for Underserved Communities Act (H.R. 7003), ICBA is urging community bankers to use its Be Heard grassroots action center to express opposition.

ICBA Opposition: As ICBA told the House Financial Services Committee before that committee took up and advanced the bill last month, H.R. 7003 focuses on low-income areas rather than low-income families and individuals, with geography a poor proxy for household income.

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