07/23/2015

Shelby Reg Relief Plan Advances in Appropriations Bill

ICBA-advocated regulatory relief provisions advanced through a Senate appropriations subcommittee as part of a fiscal 2016 funding bill. Sen. Richard Shelby (R-Ala.) attached legislation with many provisions from ICBA’s Plan for Prosperity in the spending bill, which will be taken up by the full Senate Appropriations Committee today.

The Financial Regulatory Improvement Act of 2015, which Shelby’s Senate Banking Committee approved in May, includes provisions offering less restrictive mortgage regulations, relief from excessive regulatory examinations and quarterly reporting requirements, and an exemption from the Volcker Rule. ICBA continues calling on senators to work across party lines to take up and advance these important community bank provisions.