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In its latest comments under the current Economic Growth and Regulatory Paperwork Reduction Act review, ICBA called on federal regulators to fast-track repeals of harmful and burdensome rules and reissue tiered and rightsized regulations.
Background: EGRPRA requires the federal banking agencies to review their regulations every 10 years to identify outdated, unnecessary, or unduly burdensome regulations.
ICBA Comments: Responding to regulators’ third request for comment under the current EGRPRA review, ICBA also called on the agencies to ensure meaningful community bank representation in supervision and oversight and to advance a level regulatory playing field for institutions that pose the highest risk to economic stability.
Key Policy Areas: In its letter to the banking regulators, ICBA noted that regulatory compliance costs have quadrupled since 2008 and urged the agencies to implement recommendations from its “Repair, Reform, and Thrive” plan, including:
Call report reform.
Raising the Small Bank Holding Company asset threshold to $10 billion.
Reducing regulatory requirements for de novo banks.
Reforming Bank Merger Act regulations.
Raising FDICIA audit and reporting thresholds.
Expanding the examination cycle for community banks.