Washington, D.C. (July 11, 2013)—The Independent Community Bankers of America® (ICBA) today released this statement following Federal Reserve Board Governor Elizabeth Duke’s announcement that she will resign from the board, effective Aug. 31.
“ICBA and the nation’s community bankers thank Governor Duke for her years of public service and support for the community banking industry. A former community banker herself, Governor Duke has been a stalwart supporter of Main Street financial institutions by opposing a ‘one-size-fits-all’ approach to banking regulation and by openly listening to the comments and concerns of community banks nationwide.
“As chairman of the Subcommittee on Supervision and Regulation of Community and Small Regional Banking Organizations, Governor Duke has led several initiatives to help minimize regulatory burdens and costs on community banks. Thanks in no small part to her leadership, all rules now clearly specify how they apply to community-based institutions.
“Further, Governor Duke has helped pursue accommodations in the Basel III regulatory capital rules that will help community banks continue serving their customers and communities. She also has emphasized the importance of community banks to the mortgage market and has expressed concerns with the impact on small issuers of debit-card interchange fee standards.
“ICBA once again congratulates Governor Duke on her Federal Reserve Board service and wishes her well in her future endeavors.”
The Independent Community Bankers of America®, the nation’s voice for nearly 7,000 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 www.icba.org.