ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release March 8, 2006 #06-13
E-mail: [email protected]

ACB STATEMENT ON HOUSE PASSAGE OF REGULATORY RELIEF LEGISLATION

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Statement by Diane Casey-Landry, president and CEO, America’s Community Bankers, on passage today by the House of regulatory burden relief for banks:

This legislation takes specific, concrete and necessary steps to relieve community banks of the burden of laws that stifle innovation and increase the cost of credit to consumers and businesses.

We are pleased that many of ACB’s ideas for relieving unnecessary burdens on community banks have been incorporated into this bill. Among ACB’s recommendations are increased commercial and small business lending authority for federal savings associations, regulation of thrift trust activities in a manner comparable to bank trust activities, an exemption from annual privacy notice requirements for banks that do not share customer information, and an increase in the dollar value threshold that triggers Currency Transaction Reports and modifications to the waiting period for new customer exemptions.

We will continue to work with the Senate Banking Committee to report a comparable bill that can pass the Senate and be enacted into law this year.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

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