ICBA Statement on Swearing-in of Federal Reserve Board Members

Washington, D.C. (Sept. 13, 2023) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s swearing-in of members of the Federal Reserve Board.

“ICBA congratulates Federal Reserve Vice Chair Philip Jefferson as well as Federal Reserve Governors Lisa Cook and Adriana Kugler on their swearing-in for new terms on the Fed board. ICBA will continue to voice the community banking perspective as we engage with the Federal Reserve on policy matters that affect community banks and the customers and communities they serve. We look forward to continuing our efforts to ensure regulatory policies reflect the relationship-based community bank business model that helps local economies flourish.”

About ICBA

The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. ICBA 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.

With nearly 50,000 locations nationwide, community banks constitute roughly 99 percent of all banks, employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding nearly $5.9 trillion in assets, over $4.9 trillion in deposits, and more than $3.5 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.

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