At the first House Financial Services Committee hearing of the new Congress, ICBA President and CEO Rebeca Romero Rainey called on lawmakers to transform the regulatory environment for community banks to promote locally based economic growth.
Details: At the “Make Community Banking Great Again” hearing, Romero Rainey cited the importance of the industry’s outsized small-business and agricultural lending and outlined policy proposals from ICBA’s “Repair, Reform, and Thrive” plan and open letter to the 119th Congress.
Key Policies: Among the policy priorities in her testimony, Romero Rainey called on Congress to advance tiered regulations through a comprehensive update of regulatory thresholds, provide relief from the Consumer Financial Protection Bureau’s 1071 rule, promote the formation of de novo community banks, and support equivalent regulation and taxation for credit unions and Farm Credit System lenders.
Access: Romero Rainey’s full testimony is available on ICBA’s website, and the hearing can be viewed on the committee’s website.
