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ICBA Applauds Passage of Measure to Improve Community Bank Access to Capital

NationalMortgageProfessional.com
Dec 12, 2014
A new bill introduced in the U.S. Senate by Sen. Catherine Cortez Masto (D-NV) and in the House by Rep. Nydia M. Velázquez (D-NY) seeks to reinstate Dodd-Frank Act reporting requirements

The Independent Community Bankers of America (ICBA) has applauded Congress for approving an ICBA legislative priority that would promote additional lending on Main Street by improving community bank and thrift access to capital. Lawmakers sent to the president legislation to double the Small Bank Holding Company Policy Statement asset threshold from $500 million to $1 billion. H.R. 3329 also would allow small savings and loan holding companies to be covered by the policy statement’s provisions.

“ICBA applauds Congress for approving important legislation to modernize the Small Bank Holding Company Policy Statement capital guidelines,” ICBA President and CEO Camden R. Fine said. “This legislation would make it easier for community bank and thrift holding companies to raise additional capital and improve lending. We strongly urge President Barack Obama to sign the measure into law.”

HR 3329 was inspired by a provision in ICBA’s Plan for Prosperity, the association’s regulatory relief platform for the 113th Congress. ICBA and the nation’s community banks thank Reps. Blaine Luetkemeyer (R-MO) and Jeb Hensarling (R-TX); Sens. Jerry Moran (R-KS), Angus King (I-ME), Mark Warner (D-VA), Mike Crapo (R-ID), Jon Tester (D-MT), Susan Collins (R-ME), and Tim Johnson (D-SD); and Federal Reserve Board Governor Daniel Tarullo for their leadership on this issue.

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