Washington, D.C. (Jan. 30, 2023) — The Independent Community Bankers of America (ICBA) today shared its policy priorities for the 118th Congress with members of the House and Senate. In a letter to lawmakers, and a full-page ad running in Politico this week, ICBA said its policy recommendations on behalf of community banks are designed to promote economic prosperity while avoiding misguided policies that carry unintended consequences.
“ICBA and the nation's community banks welcome the 118th Congress and look forward to working together on pro-community bank policies during this time of economic uncertainty and opportunity,” ICBA President and CEO Rebeca Romero Rainey said. “ICBA and community banks across the United States are committed to advancing policies to benefit local communities, which is why our industry has a well-deserved reputation on both sides of the aisle as catalysts for pragmatic, bipartisan solutions.”
Among the legislative priorities in today’s letter, ICBA called on Congress to:
Provide robust oversight of federal financial regulatory agencies and regulations.
Ensure climate risk rules do not obstruct community banks’ support for their communities.
Continue to reject controversial and counterproductive credit card routing mandates.
Enact effective and comprehensive oversight of cryptocurrencies, including stablecoins.
Oppose direct lending under the Small Business Administration’s 7(a) program.
Support a fair and competitive financial services landscape, by examining and addressing tax and regulatorily advantaged credit unions, Farm Credit System entities, and industrial loan companies.
Advocate a robust Farm Bill that provides a stable safety net for American agriculture.
Advance regulatory policies that promote economic growth and job creation.
“Community bankers are committed to serving the needs of their customers and communities throughout rural, urban, and suburban America,” ICBA Chairman and President and CEO of Community Spirit Bank in Red Bay, Ala., Brad Bolton said. “We
provide the very best products and services while continuing to offer our customers the trust that comes with banking from a local relationship-focused lender. This critical agenda set forth by ICBA today will help us continue that legacy as stewards
of our customer relationships and communities.”
ICBA’s complete recommendations for the 118th Congress are available at www.icba.org/advocacy.
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 more than $5.8 trillion in assets, over $4.8 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.