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At the 2024 ICBA Capital Summit, Rep. French Hill (R-Ark.) commended community bankers for their efforts to challenge misguided regulatory initiatives in support of local communities.
Details: Speaking to community bankers ahead of Capitol Hill meetings with members of Congress, the House Financial Services Committee vice chairman:
Thanked ICBA for supporting the Small LENDER Act, which would expand community bank and small-business exemptions from the Consumer Financial Protection Bureau’s 1071 data collection and reporting rule.
Rejected the CFPB’s characterization of overdraft and credit card late fees as “junk fees,” noting that they instead provide a service that consumers demand.
Said Congress opposes the formation of a U.S. central bank digital currency.
Grassroots Push: With Capital Summit meetings with policymakers concluding today, ICBA is calling on community bankers across the nation to send messages to their lawmakers on key issues regardless of whether they are attending the Capital Summit in person.
ICBA Polling Data: ICBA this week released new polling data showing Americans support community banker views on the pressing issues attendees are discussing with policymakers this week, including on CBDCs, rural lending, credit union policy, and more.
Up Next: This year’s Capital Summit concludes today with additional meetings with congressional offices and a roundtable discussion with Federal Home Loan Bank leaders.