WASHINGTON, D.C., 9 March 2017 – ICBA community bankers met with President Donald Trump and other senior officials at the White House to discuss targeted regulatory relief that will unleash the power of community banks. ICBA Chairman Rebeca Romero Rainey, ICBA Chairman-Elect R. Scott Heitkamp, ICBA Vice Chairman Timothy K. Zimmerman and ICBA President and CEO Cam Fine shared examples of how excessive regulatory burdens affect lending and economic growth.
The meeting with President Trump, Treasury Secretary Steven Mnuchin, National Economic Council Chairman Gary Cohn and White House Chief of Staff Reince Priebus included a discussion of the most burdensome rules and ICBA’s Plan for Prosperity regulatory relief platform. Trump said community banks “play a vital role in helping create jobs by providing approximately half of all loans to small businesses” and pledged to continue taking on regulatory burdens that inhibit lending.
“Community banks are the backbone of small business in America,” Trump said. “We are going to preserve our community banks.”