Pub. 9 2019-2020 Issue 2

16 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S www.coloradobankers.org Relief for Community Banks in the Competition for Deposits BY: BRYAN HARPER, REGIONAL DIRECTOR AT PROMONTORY INTERFINANCIAL NETWORK, LLC A n important reformof the rules governing reciprocal depositswillmake it easier for community banks to compete for thebusiness of largedepositors. The recent bank reformbill made a lot of news, but what may surprise you is the specific provision of the Economic Growth, Regulatory Relief, and Consumer Protection Act that community bankers believe will have the biggest impact on their daily business. Before the bill became law, a lot of attention was placed on the prov ision raising the systemically important financial institutions, or SIFI, threshold from $50 billion to $250 billion in assets, above whichbanksmust contendwith a heavier compliance burden.