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Thursday, December 5, 2013

ABA Testifies on Two Reg Relief Bills

ABA banker Thomas Richards, AVP of Owingsville Banking Co., Owingsville, Ky., testified in support of two bills pending before the House Financial Services Committee that would provide regulatory relief to community banks.

Richards expressed ABA’s support for legislation proposed by Rep. Shelley Moore Capito (R-W.Va.) that would require regulators to review and reconcile existing regulations to ensure new rules are not duplicative or in conflict.

Richards also offered ABA’s support for H.R. 2672, which would provide a mechanism for banks appealing the CFPB’s definition of “rural” and “underserved,” and H.R. 3584, which would allow privately insured credit unions to access to the Federal home Loan Bank system.

Read the testimony.

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