The Independent Community Bankers of America (ICBA) is lending support to a measure designed to provide regulatory relief by strengthening economic growth, job creation, and consumer protection.
To that end, ICBA submitted to the House of Representatives a petition of more than 10,000 community bank employees and allies urging immediate passage of the Economic Growth, Regulatory Relief and Consumer Protection Act, S. 2155.
“Community bankers and their customers urge the House to seize the moment and immediately pass the bipartisan S. 2155, which will benefit local communities and constituents for generations to come,” Timothy K. Zimmerman, ICBA chairman and CEO of Standard Bank in Monroeville, Pennsylvania, said.
The petition references both chambers of Congress have debated community bank regulatory relief for several years and President Donald Trump has vowed to sign the bill into law.
The ICBA said further delay or inaction could derail the bill’s current momentum—preserving costly and disproportionate regulatory burden, harming consumers and small businesses and leaving continued industry consolidation unaddressed.
“ICBA thanks the thousands of community bankers and industry allies who have signed the petition in support of common-sense regulatory reforms,” Rebeca Romero Rainey, ICBA president and CEO, said. “We look forward to continuing to work with the House to advance the bill and additional regulatory relief through all available legislative channels.”
ICBA is the nation’s voice for nearly 5,700 community banks of all sizes and charter type. It is dedicated exclusively to representing the interests of the community banking industry and its membership through advocacy, best-in-class education and high-quality products and services.