ICBA Backs Senate Bill Supporting Community Bank Access to Capital
ICBA expressed strong support for Senate legislation that would enhance community bank access to capital. The Community Bank Access to Capital Act of 2015 (S. 1816), introduced by Sens. Mike Rounds (R-S.D.) and Roy Blunt (R-Mo.), includes several provisions from ICBA’s Plan for Prosperity regulatory relief platform.
S. 1816 would exempt community banks from Basel III capital rules, exempt publicly held institutions with less than $1 billion in assets from Sarbanes-Oxley requirements, and allow savings and loan holding companies to use the SEC’s new deregistration and registration thresholds. The bill is similar to House legislation introduced by Rep. Scott Garrett (R-N.J.).