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ICBA said it opposes calls from Wall Street bank executives and others to consolidate the nation’s banking regulators.
Support for Agency Independence: In a national news release, ICBA President and CEO Rebeca Romero Rainey said ICBA and community bankers have long supported the independence of the federal banking agencies and the nation’s dual banking system.
Preserving Consumer Confidence: “Federal banking regulators should be objective, nonpartisan, and protected from political influence, which is essential to promoting a safe and sound banking system, consumer confidence, and a strong national economy,” she said. “Wall Street calls for consolidating the agencies undermine consumer confidence in the financial system.”
Community Bank Engagement: Romero Rainey said any changes to the system of banking regulation must involve careful study and input from all stakeholders, including community banks. ICBA looks forward to working closely with Congress and the Trump administration to support reforms that are consistent with ICBA’s “Repair, Reform, and Thrive” plan, she said.
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