WASHINGTON—The Independent Community Bankers of America is reporting it submitted to the House of Representatives a petition of more than 10,000 community bank employees and allies urging immediate passage of the bipartisan Economic Growth, Regulatory Relief and Consumer Protection Act (S 2155).
Credit unions have also been actively lobbying for the bill’s passage.
“S 2155 is a robust package of community bank regulatory relief measures that will strengthen economic growth, job creation, and consumer protection,” said ICBA Chairman Timothy K. Zimmerman, CEO of Standard Bank in Monroeville, Penn. “Community bankers and their customers urge the House to seize the moment and immediately pass the bipartisan S 2155, which will benefit local communities and constituents for generations to come.”
The petition notes that both chambers of Congress have exhaustively debated community bank regulatory relief for several years and that President Donald Trump has vowed to sign S 2155 into law. Further delay or inaction could derail the bill’s current momentum—preserving costly and disproportionate regulatory burden, harming consumers and small businesses, and leaving continued industry consolidation unaddressed.
“ICBA thanks the thousands of community bankers and industry allies who have signed the petition in support of common-sense regulatory reforms,” ICBA President and CEO Rebeca Romero Rainey said. “We look forward to continuing to work with the House to advance S 2155 and additional regulatory relief through all available legislative channels.”