Washington, D.C. — America’s banks and credit unions have urged the Federal Reserve to rescind its proposal to update Regulation II (Reg II) in a comment letter submitted today. The joint letter was submitted by the Bank Policy Institute, American Bankers Association, America’s Credit Unions, Consumer Bankers Association, Independent Community Bankers of America, Electronic Payments Coalition, Mid-Size Bank Coalition of America, National Bankers Association and The Clearing House Association.
The Independent Community Bankers of America (ICBA) has issued a call to federal regulators to address the excessive regulatory burdens faced by community banks. In a press release dated May 6, 2024, ICBA Executive Vice President and Senior Regulatory Counsel Christopher Cole emphasized the importance of taking action to prevent long-term damage to communities that rely on these local financial institutions.Cole stated, “Consolidation within the industry, acquisitions of community banks by credit unions, and a small number of de novo bank applications are symptoms of the...
ICBA President and CEO Rebeca Romero Rainey and ICBA Senior Executive Vice President, Chief of Government Relations and Public Policy Anne Balcer have been recognized as two of Washingtonian magazine’s 500 Most Influential people in the banking and finance sector for their tireless advocacy on behalf of the nation's community banks.Romero Rainey, expressing her gratitude for the recognition, stated, "I feel incredibly privileged to represent the nation's community banks and to raise awareness of their vital contributions to our economy. I share this honor with Anne, and...
Washington, D.C. (May 1, 2024)— In response to the recent acquisition of a tax-paying bank by a tax-exempt credit union, President and CEO of the Independent Community Bankers of America (ICBA), Rebeca Romero Rainey, emphasized the need for congressional action. Romero Rainey stated, “Tax-exempt credit unions now account for nearly a quarter of this year’s bank acquisitions, with each one expanding the federal tax exemption for more than $2 trillion in credit union assets and displacing a critical and trusted provider of credit in local communities."Romero Rainey pointed...
Washington, D.C. (April 29, 2024) — The Independent Community Bankers of America (ICBA) recently shared a statement from Stifel, emphasizing the crucial role of community banks in the nation's banking system.In the statement, Brant McDuffie, Stifel’s Co-Head of Fixed Income Capital Markets, expressed Stifel's commitment to supporting community banks. McDuffie stated, “Stifel is dedicated to serving community bank clients and offers a full set of products and services tailored to our common mission to serve community banks. A robust, diverse and healthy banking system is...
Washington, D.C. (April 29, 2024) - The Independent Community Bankers of America (ICBA) commenced the 2024 ICBA Capital Summit in Washington with the unveiling of new polling data that reveals significant public backing for community banker perspectives on critical issues. According to ICBA President and CEO Rebeca Romero Rainey, Americans across the nation align with community bankers' stances on essential policy matters.The ICBA-commissioned polling, executed by Morning Consult, highlighted several key findings. The data indicated that 70% of Americans believe that...
Washington, D.C. (April 25, 2024) - The Independent Community Bankers of America (ICBA) has unveiled its legislative and regulatory policy objectives for 2024, setting the stage for the upcoming ICBA Capital Summit from April 28 to May 1. The resolutions, developed and endorsed by ICBA volunteer community bankers, will shape the organization's advocacy efforts in the year ahead, aligning with its core mission of fostering an environment conducive to the success of community banks.In a statement, ICBA Chairman Lucas White, who also serves as the president of The Fountain...
ICBA President and CEO Rebeca Romero Rainey expressed support for proposals to decrease deposit insurance assessments for community banks, stating, "With the Deposit Insurance Fund reserve ratio on track to reach the statutory minimum two years ahead of schedule, ICBA strongly supports proposals to decrease deposit insurance assessments for the nation’s community banks."Rainey referenced remarks made by Acting Comptroller of the Currency Michael Hsu and Consumer Financial Protection Bureau Director Rohit Chopra at the FDIC board meeting, highlighting the importance of...