Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey has issued a statement on the inauguration of Donald Trump as the 47th president of the United States.
"ICBA and the nation's community banks welcome President Donald Trump and look forward to working with the new president, his administration, and the 119th Congress during this historic opportunity to make significant improvements to financial services policy," said Romero Rainey.
She emphasized ICBA's commitment to advancing policies that benefit local communities. "ICBA and community banks across the nation are committed to advancing policies to benefit local communities, which is why our industry has a well-deserved reputation on both sides of the aisle for advancing pragmatic solutions to support localized economic growth."
Romero Rainey highlighted an opportunity with the new administration and Congress to address burdensome banking regulations. "With the new administration and Congress offering an extraordinary opportunity to address excessively burdensome banking regulations hindering access to financial services in local communities, ICBA’s ‘Repair, Reform, and Thrive’ plan and our recent open letter to the 119th Congress outline comprehensive reforms that address our most pressing policy challenges."
She also noted past successes with Trump's first term. "These policies will help build on the success of the first Trump administration, where together we secured regulatory relief for community banks with President Trump’s signing of the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155)."
Romero Rainey concluded by expressing eagerness for collaboration. "We look forward to working closely with the new Trump administration and 119th Congress to implement these critical reforms."
The Independent Community Bankers of America aims to create an environment where community banks can thrive through advocacy, education, and innovation. These banks play a crucial role in channeling deposits into their neighborhoods, creating jobs, fostering economic prosperity, and supporting their customers' financial goals.