WASHINGTON, 22 July 2015  ​The Independent Community Bankers of America® (ICBA), a member of WSBI, today expressed strong support for Senate legislation that would enhance community bank access to capital to support lending in local communities. The Community Bank Access to Capital Act of 2015 (S. 1816), introduced by Sens. Mike Rounds (R-S.D.) and Roy Blunt (R-Mo.), includes several provisions from ICBA’s Plan for Prosperity regulatory relief platform. The bill is similar to House legislation introduced by Rep. Scott Garrett (R-N.J.).

“ICBA strongly supports the Community Bank Access to Capital Act of 2015 and thanks Sens. Rounds and Blunt for introducing this much-needed legislation,” ICBA President and CEO Camden R. Fine said. “Relieving community banks from excessive and unnecessary regulatory burdens will improve access to credit and support economic growth in local communities across the nation.”

The Community Bank Access to Capital Act of 2015 would:

  • exempt community banks with $50 billion or less in assets from the Basel III capital rules,
  • exempt publicly held community banks with less than $1 billion in assets from the Sarbanes-Oxley Act’s internal control attestation requirements,
  • allow savings and loan holding companies to use the Securities and Exchange Commission’s new deregistration and registration thresholds, and
  • reserve current SEC rules regarding the definition of “accredited investor.”

ICBA will continue working with the House and Senate to advance this important legislation and other regulatory relief measures from the association’sPlan for Prosperity.

About ICBA
The Independent Community Bankers of America®, the nation’s voice for more than 6,000 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.

>> Learn more at the ICBA website​