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 May 26, 2006 #06-31
E-mail: [email protected]

ACB STATEMENT ON SENATE PASSAGE OF REGULATORY RELIEF LEGISLATION

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Statement by Robert R. Davis, executive vice president and managing director of government relations, America’s Community Bankers, on the regulatory reform bill passed by the Senate:

America’s Community Bankers is pleased at the Senate action unanimously passing a regulatory relief bill. This is another critical step toward enacting comprehensive regulatory relief legislation this year, which remains a top priority for the banking industry.

We want to thank Chairman Richard Shelby (R-Ala.) and Sens. Paul Sarbanes (D-Md.) and Michael Crapo (R-Id.) for their leadership on the Senate side, and for the efforts of Chairman Michael Oxley (R-Ohio) and Reps. Barney Frank (D-Mass.) and Jeb Hensarling (R-Tex.) in previously passing a bill in the House.

We now look for their continued leadership to work out the differences between the two bills to craft legislation that will provide true regulatory relief for the banking industry.

In light of the cumulative effect of some 801 final bank regulations over the past two decades — a new regulation issued every week over a 15-year span through 2004 — it is essential that real reform be passed to allow community bankers to get back to the business of banking and do what they do best: serve their customers and their communities.

ACB and its members will work diligently with both Houses of Congress to resolve differences in the bills and achieve final passage of the legislation 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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