ICBA Tells Congress Quicker TARP Funding and Reasonable Exams Needed

Independent Banker, February 2009 | Go to article overview
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ICBA Tells Congress Quicker TARP Funding and Reasonable Exams Needed


ICBA in Action

To help turn around the ailing economy, ICBA Chairman Cynthia Blankenship told Congress that capital funding from the Treasury Department's Capital Purchase Program should be released more quickly to interested community banks.

The quicker the government releases the funds, the faster community banks can serve the financial needs of many more consumers and businesses, Blankenship said. She detailed an ICBA recommendation on statutory clarification to ensure that whole real estate loans can be purchased under the Troubled Asset Relief Program (TARP).

Since the TARP funding was established last fall, ICBA has led the industry's efforts to ensure that all community banks have an equal opportunity to fully participate in the CPP, including privately held, Subchapter S and mutual institutions.

Presenting ICBA testimony to the House Financial Services Committee, Blankenship also asked lawmakers to direct regulatory agencies to adopt "more flexible and reasonable" examinations. Community banks across the country, she said, are reporting problems with overzealous examiners demanding overly aggressive loan write-downs and reclassifications on many performing loans, particularly commercial real estate loans.

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ICBA Tells Congress Quicker TARP Funding and Reasonable Exams Needed
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