ICBA sent a letter to members of the House Financial Services Committee in support of the Community Bank Regulatory Tailoring Act (H.R. 7056), which would index various asset-based, bank-regulatory thresholds to nominal GDP for community banks. ICBA said H.R. 7056 would update numerous thresholds without sacrificing fundamental consumer protections or safety and soundness, thereby creating regulatory relief for community banks that will allow them to focus more resources on the customers and communities they serve. ICBA encourage the committee members to vote yes on the legislation.