ICBA News Watch this week / US Weekly Bell
WASHINGTON, D.C., Weeks beginning 7 and 14 December 2015
An omnibus budget deal released by congressional negotiators includes ICBA-supported tax extenders and cybersecurity information-sharing legislation. However, the year-end legislative package, which is expected to clear Congress by the end of the week, left out several regulatory relief measures that ICBA and community bankers have been advocating. Following this month's passage of ICBA-backed regulatory relief measures in the FAST Act highway law, the omnibus agreement would have been the perfect vehicle to advance additional community bank relief, ICBA said in a statement. ICBA has been working to include Plan for Prosperity provisions offering relief from mortgage regulations, Basel III capital requirements, the Volcker Rule, regulatory exams and quarterly reporting requirements On the plus side, the deal:
House and Senate votes on the spending and tax extender bills are expected today and tomorrow. ICBA will continue working with lawmakers to expand upon the regulatory relief provisions contained in the highway law. >> Read ICBA Release.