ICBA Applauds House Financial Services Committee for Advancing Pro-Community Bank 1071, De Novo, Anti-CBDC Bills

Washington, D.C. (April 2, 2025)—The Independent Community Bankers of America (ICBA) commended the House Financial Services Committee for advancing three ICBA-advocated bills to support community banks and the local communities they serve.

“ICBA and the nation’s community banks commend the House Financial Services Committee for today’s votes to advance pro-community bank bills to repeal the Consumer Financial Protection Bureau’s 1071 rule, promote new community bank formation, and restrict the issuance of a U.S. central bank digital currency,” ICBA President and CEO Rebeca Romero Rainey said. “These bills are critically important to ensuring community banks can continue meeting the financial services needs of small businesses and local communities nationwide, and we urge the House to take up and pass these measures as soon as possible.”

At today’s markup, the committee voted to advance:

  • The 1071 Repeal to Protect Small Business Lending Act (H.R. 976), House Small Business Committee Chairman Roger Williams’s (R-Texas) bill to repeal Section 1071 of the Dodd-Frank Act to halt the implementation of intrusive and overly burdensome data collection and reporting requirements for small-business loans.
  • The Promoting New Bank Formation Act (H.R. 478), Subcommittee on Financial Institutions Chair Andy Barr’s (R-Ky.) bill directing regulators to phase in capital standards for newly formed banks, remove limitations on agricultural lending at these de novo institutions, and address other excessive regulatory burdens hindering the formation of new community banks, which will help support access to banking services in local communities.
  • The Anti-CBDC Surveillance State Act (H.R. 1919), House Majority Whip Tom Emmer’s (R-Minn.) bill to bar the Federal Reserve from issuing a U.S. central bank digital currency to consumers, which would disintermediate community banks, reduce credit availability, undermine consumer privacy, and pose unnecessary risks to consumers and small businesses.

 ICBA looks forward to continuing to work with policymakers to advance these measures to support community banks and the small businesses and local consumers they serve.

About ICBA
The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.

As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.