ICBA said any change to the structure of the nation’s banking agencies must involve careful study and input from all stakeholders, including community banks.
Details: In a national news release following media reports related to potential consolidation of the banking regulators, ICBA President and CEO Rebeca Romero Rainey said 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.
ICBA Plan for Reform: Romero Rainey said ICBA looks forward to working closely with the 119th Congress and Trump administration to address excessive regulatory burdens and implement needed reforms to federal banking policy, citing ICBA proposals laid out in its “Repair, Reform, and Thrive” plan.
Outlook: “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,” she said.
