January 12, 2015
Federal banking regulators have announced that an Economic Growth and Regulatory Paperwork Reduction Act (“EGRPRA”) outreach meeting will be held in Chicago on October 19, 2015. CBAI encourages Illinois community banks to attend this outreach meeting and express their views on regulatory burden directly to the federal banking agencies. In addition, the agencies will hold an outreach meeting this summer focusing on rural banking issues.
CBAI urged the federal banking regulators to address outdated, unnecessary, and unduly burdensome regulation of community banks. In a September 2014 comment letter CBAI highlighted the need for tiered regulation and called on the regulators to encourage de novo bank formation, ease quarterly Call Report burden, and increase the Small Bank Holding Company Policy Statement threshold to $5 billion (and allow small savings and loan holding companies to be covered by the Policy Statement). Read Comment Letter. Read More from the Agencies.