It's about partnerships. coloradoenterprisefund.org CEF helps with the small business loan. Bank maintains the banking and merchant relationship. Refer to CEF any small business loans that fall outside bank guidelines. from contributing to restore losses to the Deposit Insurance Fund. Community banks do not benefit from the systemic risk exemption and shouldn’t have to pay for the miscalculations and speculative practices of large financial institutions. For now, the White House is in support of that proposition, and ICBC has received acknowledgment on the issue from its letter to the FDIC, OCC, and the Consumer Financial Protection Bureau. We also voiced these concerns to our Colorado U.S. lawmaker delegation when ICBC member bankers visited Washington, D.C. in mid-May for the ICBA Capitol Summit. These bank failures highlight the strengths of banks like ICBC’s members. Despite lingering effects from the global pandemics, rising inflation, and an unprecedented rise in interest rates, customers should know the community banks’ mission to always support their customers and communities continues undaunted. n INDEPENDENT REPORT | 9
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