07/20/2015

ICBA Continues Fighting Senate Effort to Cut Bank Income

ICBA continues working against a legislative proposal to reduce the dividend that the Federal Reserve pays on the stock that banks are required to hold as members of the Federal Reserve System. ICBA is urging senators to oppose the proposal, which would use the proceeds to offset the cost of reauthorizing the Highway Trust Fund, undermining an agreement that has underpinned the U.S. banking system for 100 years. Read Coalition Letter.