Magazine article American Banker

ICBA to House GOP: Don't Obstruct Reg Relief

Magazine article American Banker

ICBA to House GOP: Don't Obstruct Reg Relief

Article excerpt

Byline: Victoria Finkle

WASHINGTON -- A top banking industry leader is pushing back on an effort by House Republicans to make more changes to a regulatory relief bill winding its way through Congress.

Camden Fine, president and chief executive of the Independent Community Bankers of America, said in a statement Friday that his group "will not participate in making the perfect the enemy of the good" when it comes to further amending the legislation.

The warning follows comments made Thursday by Rep. Jeb Hensarling, R-Texas, chairman of the House Financial Services Committee, who emphasized that he would not simply "rubber-stamp" a recently passed Senate bill and that House Republicans would seek to make modifications of their own.

The Financial Services Committee has compiled a list of roughly 30 bipartisan measures that lawmakers would like to see added to the legislative package.

The Senate passed the bill -- sponsored by Banking Committee Chairman Mike Crapo, R-Idaho -- on Wednesday, relaxing some provisions of the Dodd-Frank Act with the support of more than a dozen moderate Democrats, who split from their more progressive colleagues. The deal would provide a number of relief items for small and regional banks, most notably raising the asset threshold under which banks face heightened prudential standards from $50 billion to $250 billion.

Fine, a proponent of the Crapo bill, said the legislation passing the Senate will benefit the industry.

"Everything in the bipartisan Senate bill is good for community banks, credit unions and consumers. …

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