ICBA Statement on House Passage of Financial CHOICE Act

ICBA Statement on House Passage of Financial CHOICE Act

Washington, D.C. (June 8, 2017)—Independent Community Bankers of America® (ICBA) President and CEO Camden R. Fine issued the following statement on today’s House passage of House Financial Services Committee Chairman Jeb Hensarling’s (R-Texas) Financial CHOICE Act of 2017 (H.R. 10).

“ICBA congratulates Chairman Hensarling on House passage of the Financial CHOICE Act, which advances ICBA-advocated community bank regulatory relief to enhance economic and job growth nationwide. This ICBA-supported legislation includes many provisions in ICBA’s pro-growth Plan for Prosperity regulatory relief platform, such as common-sense reforms to burdensome and costly mortgage-lending requirements, relief from excessive and unnecessary call report and data-collection mandates, and greater accountability in the bank exam environment.

“Meaningful regulatory relief for the nation’s community bank is needed to improve lending and strengthen economic growth at the local level. While ICBA continues to have concerns with provisions of the bill that would alter the 10 percent concentration cap on deposits and liabilities at the nation’s largest financial institutions, we look forward to continuing to work with Congress to advance the Financial CHOICE Act and other regulatory relief measures that will help unleash the full economic power of the nation’s community banks.”

About ICBA
The Independent Community Bankers of America®, the nation’s voice for more than 5,800 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit ICBA’s website at www.icba.org.

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