Community bankers aren’t the only ones who think so. Nearly everyone in Washington now agrees, to one degree or another. Most members of Congress, including the leaders of both political parties, say it’s time. Top regulators also concur, and some have even offered a proposal or two of their own. Even many of your customers — particularly those, heaven forbid, seeking a loan without a blood test or a signature cramp — say yes. Heck, even those pesky credit unions begrudgingly agree. And ready for the toss, President Obama says he would welcome such bipartisan legislation to sign. Inside and outside Washington, most people agree the time has come to enact real, meaningful and significant regulatory relief for community banks. And fortunately, we have a clear, ready-made plan laid out for members of Congress to do just that. It’s the Plan for Prosperity, the legislative platform of the Independent Community Bankers of America outlining for the 114th Congress specific, targeted regulatory relief measures for community banks. Addressing ICBA’s top priority, the Plan for Prosperity is central to expanding on ICBA’s recent historic progress to establish a fully tiered regulatory framework for community banks. Developed with ICBA’s diverse membership, the platform contains nearly three dozen detailed legislative provisions, each addressing a real-world problem or need. In addition to promoting specific measures to cut excessive and counterproductive regulations, its provisions will help community banks raise capital and make necessary reforms to the banking regulatory process and structure. Significantly, the Plan for Prosperity is a flexible, living document. It can be adapted easily and expanded as new opportunities and circumstances arise. And it gives lawmakers great leeway to advance legislation in multiple ways, however they see fit. This bipartisan plan is ready to go. There’s simply no excuse for Congress not to act soon. And while the banking agencies have a powerful and pivotal role, Congress has the greatest, final authority to act quickly and the most effectively. Understandably, past Congresses have devoted considerable attention and resources in responding to the Wall Street financial crisis. While some of their actions thankfully have been sensitive to the needs and concerns of community banks, there’s no question community banks have nevertheless been disproportionately and unfairly disrupted by the newest complex laws and regulations engineered to stop the excesses and systemic risks of Wall Street institutions. Acknowledging the problem, lawmakers repeatedly have told community bankers to hold on, relief is on the way. Now after years of constant, concerted and vigorous but patient advocacy by ICBA, Congress only needs to wind up its act and to follow through. Community banks — and our economy — need relief now. This month, nearly 1,000 of your fellow community bankers are participating in ICBA’s Washington Policy Summit. As their top advocacy priority, the bankers will be promoting and explaining the Plan for Prosperity and its measures to their members of Congress. Please consider joining them. The summit is open to any and every community banker. Through our collective presence, we all need to make a statement on this issue. Otherwise, please take the time to learn about the Plan for Prosperity. This is your plan. Be prepared to contact your representatives in Congress about it. Nearly everyone agrees our time has come. But we still need our whole industry involved. Be ready and be with us. t SHAZAM is a Preferred Service Provider of the Indiana Bankers Association. the squeeze on you? Is your EFT provider putting (855) 314-1212 • shazam.net/money Every time your EFT provider cranks up its fees, it’s like another clamp-down to your bottom line. But SHAZAM turns it the other way — more than $10 million in price reductions and complimentary new products to our partners over the past two years! Take the pressure off your business. Call SHAZAM today. There’s a better way... call SHAZAM Add it up!
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