Fed’s Bowman urges community banks to weigh in on agency rulemakings

Federal Reserve Governor Michelle Bowman encouraged community bankers to provide feedback on agency rulemakings.

Remarks: Addressing the Independent Community Bankers of Colorado’s Golden Jubilee Convention in Vail, Bowman said that community banks’ real-world experiences will help inform agency consideration of capital and long-term debt proposals for banks over $100 billion in assets, climate risk proposals, and a pending Community Reinvestment Act rulemaking and climate risk.

ICBA View: ICBA has commended regulators for targeting proposed capital and debt requirements to institutions over $100 billion in assets, has expressed concerns with various agency proposals on climate risk, and has urged regulators to develop a uniform CRA rule that minimizes new data collection and reporting burdens for community banks.

Grassroots Alerts: Meanwhile, community bankers can use ICBA’s Be Heard grassroots action center to weigh in on numerous advocacy priorities.