WASHINGTON—Community bankers are in Washington this week and while their list of priorities in meeting with representatives will look familiar, one long-time item of concern is missing: credit unions.
The Independent Community Bankers of America (ICBA) is hosting its 2023 ICBA Capital Summit while also releasing new national and state-level polling data it said shows Americans in all 50 states have an increasingly favorable view of community banking.
According to the ICBA, its “Public Opinion of Community Banks” dashboard, polling that was conducted by Morning Consult in all 50 states found 72% of U.S. adults say it is important to them that their bank is based in their local community—up from 69% in 2022.
ICBA further said its polling also found 89% of adults said it is important that their institution is part of the regulated banking system, while 79% cited the importance of locally based lending decisions, which is up from 76% last year.
On the Agenda
According to the ICBA, during its advocacy meetings with policymakers this week community bankers will be discussing the following key policy issues to “ensure their continued strength and ability to serve their customers in urban, suburban and rural America”:
- Differentiating community banks
- The Consumer Financial Protection Bureau’s Section 1071 small-business data collection and reporting rule
- Congressional oversight of digital assets
- Supporting U.S. agriculture and the ACRE Act
- Opposing credit card routing mandates
- A congressional review of credit union and Farm Credit System policies
- Closing the industrial loan company loophole
Speakers to the event will include Treasury Secretary Janet Yellen, Senate Banking Committee member Kevin Cramer (R-ND), House Small Business Committee Chairman Roger Williams (R-TX), and House Subcommittee on Financial Institutions Chairman Andy Barr (R-KY).
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