Washington, D.C. (Feb. 12, 2025) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on media reports related to actions at the Consumer Financial Protection Bureau (CFPB) and potential consolidation of banking regulators.
“Community banks—and the banking system as a whole—provide Americans with a safe and trusted means to conduct financial transactions, with deposits insured through the FDIC and backed by the full faith and credit of the U.S. government. Any changes to its structure must involve careful study and input from all stakeholders, including community banks.
“As the key stakeholders that fund the FDIC Deposit Insurance Fund and Federal Reserve oversight through assessments, community banks support efforts to enhance efficiency across the federal banking regulatory agencies. Any changes in supervision must ensure that community banks have a level playing field and that one-size-fits-all regulation does not compromise ICBA’s goal to create a tiered regulatory system.
“We look forward to working closely with the 119th Congress and Trump administration to address excessive regulatory burdens and implement needed reforms to federal banking policy. We continue to support reforms that are consistent with ICBA’s ‘Repair, Reform, and Thrive’ initiative and ensure the economic viability of community banks and their customers. While preserving the independence of banking regulators and our nation’s dual banking system are fundamental, these important reforms will help ensure community banks can continue meeting the banking needs of local communities.”
About ICBA
The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.
As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.
