With the new administration and Congress now up and running, IBAT joins the Independent Community Bankers of America (ICBA) in calling for repair and reform of the American financial regulatory landscape.
In a letter to Congress and priorities document, the ICBA outlined a plan for powering local communities, developed in conjunction with IBAT and other state associations.
The plan calls upon Congress to:
- Fix broken regulations harming communities;
- Unleash the power of locally based banking; and
- Fuel the future of community banking.
This includes calls to:
- Repeal, reissue or revise key regulations, including Section 1071, CRA, Section 1033, brokered deposits and UDAAP guidance.
- Roll back efforts to reform the mission of the Federal Home Loan Bank system.
- Eliminate obstacles to de novo bank formation.
- Support tax policy conducive to leveling the playing field to support market growth and competition.
- Revisit deposit insurance and resolution requirements to end the disparate treatment of community bank depositors.
In meetings on Capitol Hill, IBAT has been sowing seeds with members of the Texas Congressional delegation, and other key committee leaders.
All IBAT members are encouraged to join us in Washington D.C. for the 31st Annual Congressional Visit as we call upon Congress to take action on these and other priority initiatives.
