Participants Outline ICBA’s Plan for Prosperity Solution to Regulatory Burden
Washington, D.C. (March 9, 2017)—Community bankers from the Independent Community Bankers of America® (ICBA) today met with President Donald Trump and other senior officials at the White House to discuss how to unleash the full economic potential of community banks by passing targeted regulatory relief.
The ICBA community bankers in attendance were:
In the meeting with President Trump, Treasury Secretary Steven Mnuchin, National Economic Council Chairman Gary Cohn and White House Chief of Staff Reince Priebus, the ICBA community bankers and ICBA President and CEO Camden R. Fine shared specific examples of how excessive regulatory burdens affect their ability to serve their customers, make loans and create jobs at the local level. They also discussed ICBA’s Plan for Prosperity, a pro-growth platform to eliminate onerous regulatory burdens on community banks that inhibit lending and innovation. The comprehensive platform includes provisions to cut regulatory red tape, improve access to capital, strengthen accountability in bank exams, incentivize credit in rural America and more.
“The nation’s community bankers are committed to serving local consumers and small businesses and fostering economic and job growth from the ground up,” Romero Rainey said. “However, one-size-fits-all regulations are imposing unnecessary burdens on community banks that stifle lending and growth in local communities. ICBA looks forward to continuing to work with President Trump, his administration and Congress to advance common-sense regulatory relief that will support communities nationwide.”
More information on how community banks power local economies and create jobs is available in ICBA’s new “Community Banking: Know the Difference” video.