ICBA issued a guide to help community bankers participate in the Economic Growth and Regulatory Paperwork Reduction Act review process launched by banking regulators this year.
Background: EGRPRA requires the federal banking agencies to review their regulations every 10 years to identify outdated, unnecessary, or unduly burdensome regulations applicable to insured depository institutions.
Details: EGRPRA gives community bankers an opportunity to articulate serious concerns with regulatory burden and how it is adversely affecting their ability to serve their communities.
Get Involved: ICBA’s new guide helps community bankers prepare for two opportunities:
The agencies will host a virtual hearing on Wednesday, Sept. 25, to hear directly from bankers on how regulatory burdens adversely affect their banks and customers. Although registration is now closed for this virtual hearing, there will be future opportunities to testify.
The agencies will accept written comments on regulatory burden until Oct. 30. The topics open for comment include regulations related to consumer protection, directors, officers, employees, and money laundering.
ICBA Input: In a national news release in July, ICBA commended regulators for heeding ICBA’s calls to hold a livestreamed public meeting as part of the current EGRPRA review.
