ICBA continues grassroots on ILC, ‘trigger leads’ bills

ICBA is calling on community bankers to urge their members of Congress to support bills that would close the industrial loan company loophole and protect the financial privacy of mortgage applicants.

Grassroots Alerts: Community bankers can use ICBA’s Be Heard grassroots action center to express support for:

• The Close the Shadow Banking Loophole Act (S. 3538), which would require companies that acquire an ILC to be subject to the same consolidated supervision by the Federal Reserve as any other bank holding company.

• The Homebuyers Privacy Protection Act (S. 3502), which would address “trigger leads” by restricting credit reporting agencies from selling consumers’ contact information when they apply for a residential mortgage.

Capital Summit: Meanwhile, registration is open for the 2024 ICBA Capital Summit, scheduled for April 28-May 1 in Washington, D.C. The event brings community bankers from across the country to the nation’s capital to advocate on key issues. Register here.