ICBA is calling on community bankers to send individual comment letters to the FDIC to support the agency’s proposal to exempt community banks under $5 billion in assets from its proposed special assessment.
Submitting Comments: Community bankers have until Friday, July 21, to use ICBA’s Be Heard grassroots action center to send personalized comment letters in support of the proposal.
Background: ICBA efforts to differentiate community banks from larger institutions led to the proposed exemption, which would prevent most community banks from paying any special assessments to recoup the $15.8 billion loss to the Deposit Insurance Fund caused by the failures of Silicon Valley Bank and Signature Bank of New York.
Community Bank Impact: Given the substantial savings to community banks across the nation and with larger financial institutions working against the proposal, personalized comment letters will help ensure the FDIC finalizes its proposed community bank exemption.