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ICBA expressed support for legislation to support more flexible agency rules that take account of the size and compliance resources of small businesses.
Details: Introduced by Rep. Scott Fitzgerald (R-Wis.), the Making the CFPB Accountable to Small Business Act would require federal regulators to:
Describe how requirements for smaller businesses minimize any additional cost of credit before finalizing any rule.
Provide a detailed justification if they determine that no alternatives to the final rule exist.
Previous News
ICBA continues encouraging community bankers to submit comments by next week’s deadline urging the Consumer Financial Protection Bureau to test and ultimately adopt an ICBA proposal to update mortgage disclosures.
ImageMar 23, 2023
Treasury Secretary Janet Yellen said her department is committed to ensuring the ongoing health and competitiveness of the community banking system, reflecting ICBA’s calls for policymakers to ensure deposit insurance policy does not pick winners and losers in the banking system.
ImageMar 22, 2023
ICBA called on the Financial Crimes Enforcement Network to modify its proposed form for collecting beneficial ownership information from reporting companies.
ImageMar 22, 2023
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