Complete Story
07/22/2014
Newspaper: Senate Vote on Fed Bill Big Win for Community Banks
| Community banks scored a big win last week with the Senate’s overwhelmingly approval of legislation that would require the White House to appoint someone with community banking experience to the Federal Reserve Board, The Hill newspaper reported. ICBA Executive Vice President of Congressional Relations and Chief Economist Paul Merski told the newspaper that the provision is perfectly reasonable and that ICBA will continue pushing to attach the language to any legislative vehicle. The ICBA-advocated amendment offered by Sen. David Vitter (R-La.) would require at least one member of the Fed board to have experience as a community banker or community bank supervisor. ICBA has repeatedly called on the White House and Congress to ensure a community bank presence on the Fed board and has strongly supported Vitter’s Community Bank Preservation Act (S. 2252). The association strongly urged the House to adopt the amendment |
