U.S. Congress passed a key ICBA legislative priority to improve community bank and thrift access to capital. The legislation, which came directly from ICBA’s Plan for Prosperity regulatory relief agenda, advances the association’s longstanding commitment to tiered regulation and regulatory relief for community banks.
H.R. 3329 doubles the Small Bank Holding Company Policy Statement asset threshold from $500 million to $1 billion. It also allows small savings and loan holding companies to be covered by the policy statement’s provisions. ICBA has led the fight for this legislation throughout the 113th Congress.
ICBA applauded Congress for passing H.R. 3329 and strongly urged President Barack Obama to sign the measure into law. The association also recognizes that this community bank victory would not have been possible without the grassroots advocacy of the nation’s community banks and ICBA’s affiliated state and regional community banking associations.
ICBA will continue its tireless commitment to the nation’s community banks as it works to procure additional relief from unnecessary and excessive regulatory burdens.
Read the latest U.S. Community Bank news here.