More than 9,000 community bankers sent more than 65,000 messages to Congress and Federal regulators in 2020.

They called for COVID-19 relief, commented on the Paycheck Protection Program (PPP), asked lawmakers to resist the efforts of tax-exempt credit unions to buy banks, and pushed back against a mortgage fee implemented too quickly. In many cases, proactive community bankers responded to ICBA’s alerts with lightning speed — at times sending thousands of letters in just 24 hours. 

These emails reached 480 congressional offices, including 98 percent of Senate offices and more than 88 percent of House offices.

Community bankers and their small-business customers made 1,300 phone calls urging Congress to streamline the PPP loan forgiveness process. This was in addition to the more than 500 comment letters community bankers sent to regulators looking for comment on various rules. 

Let’s review what community banks did this year on the advocacy front.

2020 Advocacy by the Numbers

  • 9,000 community bankers took action
  • 480 congressional offices contacted
  • 1,300 phone calls made
  • 64,000 emails sent
  • 500 comment letters sent

COVID-19 Relief and PPP Reform

Community bankers made roughly 2.8 million PPP loans that saved an estimated 33.7 million jobs, but they didn’t just lead the way in PPP lending. They also were strong advocates for PPP improvements to benefit small-business customers across the country. 

Community bankers sent more than 48,000 emails to lawmakers on Capitol Hill to advocate pro-community bank and pro-Main Street COVID-19 relief provisions and PPP reforms. They were heard loud and clear.

At least $60 billion of PPP funds in the second round of funding were dedicated to loans from community financial institutions that serve their local small businesses. At least $30 billion in funding was allocated for loans from institutions with less than $10 billion in assets, and another $30 billion for those with between $10 billion and $50 billion in assets. 

Community banks have been proactive in reaching out to the small-business customers they’ve aided to help tell their stories and push for streamlined PPP forgiveness for loans of $150,000 or more. In just two weeks, community bank small-business customers made more than 600 phone calls and sent more than 1,000 letters using ICBA advocacy resources.

That’s on top of the several hundred calls and more than 10,000 emails and letters sent by community banks. These efforts contributed to the Small Business Administration’s decision to grant relief for loans of less than $50,000. 

Pushing back against the adverse market fee 

When the Federal Housing Finance Agency (FHFA) sprung an adverse market fee of 50 basis points on refinance loans delivered to the government-sponsored enterprises (GSEs) beginning Sept. 1, community bankers responded en masse. In just one week, 1,200 community bankers sent 3,700 messages to Capitol Hill arguing the adverse market fee would have a negative economic impact on community bank mortgage lenders and consumers. 

Community bank advocates reached 45 percent of congressional offices with their time-sensitive emails, and those messages were heard. Within days, the FHFA shifted course, delaying the fee until Dec. 1 and exempting loan amounts of less than $125,000. That gave community bank mortgage lenders enough time to process and close loans locked in before the fee was announced and keep loans affordable for low-income borrowers. 

Combating credit unions 

Community bankers sent more than 15,000 messages to Capitol Hill as part of ICBA’s “Wake Up” campaign, which urges policymakers and the public to wake up to the risky practices, costly tax subsidies and irresponsibly lax oversight of the nation’s credit unions. The letters asked members of Congress to hold hearings on unfair credit union competition and to examine the troubling trend of credit unions misusing their tax exemption to buy taxpaying community banks. 

ICBPAC by the numbers 2019-2020

2,500 contributions from community bankers

$1.85 million raised

$1.5 million disbursed

300 candidates and committees supported

94% of supported candidates succeeded

COVID-19 Relief and PPP Reform

Community bankers made roughly 2.8 million PPP loans that saved an estimated 33.7 million jobs, but they didn’t just lead the way in PPP lending. They also were strong advocates for PPP improvements to benefit small-business customers across the country. 

ICBPAC Bipartisan Successes

ICBPAC was also extremely active throughout the year. More than 2,500 leadership bankers and bank employees contributed nearly $875,000 to ICBPAC in 2020 and $1.85 million throughout the 2019-2020 election cycle.

Powered by the support of community bankers, ICBPAC disbursed over $1.5 million to more than 300 candidates and committees during this election cycle—including more than $760,000 in 2020.

Despite the challenges of COVID-19, ICBPAC in 2020 facilitated 54 check presentations totaling $82,000 in coordination with affiliated state community bank association partners and ICBA leadership bankers. Additionally, 94 percent of ICBPAC supported candidates won re-election in November’s general election.

Looking ahead to 2021, ICBA will continue to direct meaningful and effective grassroots advocacy efforts through the Be Heard grassroots action center so community bankers know how to best make their voices heard. Nothing is more effective in terms of industry advocacy than community banker relationships with their legislators.