ICBA continues calling on community bankers to urge their members of Congress to support a House resolution to nullify the Consumer Financial Protection Bureau’s Section 1071 rule.
Grassroots: Community bankers can use ICBA’s Be Heard grassroots action center to urge lawmakers to pass H.J.Res.50, which would provide for congressional disapproval of the 1071 rule and dictate that it has no force or effect.
Joint Letter: ICBA and 44 state community banking associations recently called on House members to approve the resolution, noting the 1071 rule will create new layers of regulatory burden that will disrupt lending and reduce access to credit.
Summary: ICBA recently published a summary of the rule that details its scope of coverage, key definitions, compliance dates, collection and reporting procedures, and more.
