Community Spirit Bank attends ICBA Capital Summit
Community Spirit Bank joined community banks from across the nation in Washington to advocate immediate passage of meaningful regulatory relief as part of the Independent Community Bankers of America 2018 Capital Summit. During the summit, bank officials met with lawmakers to discuss policies that help promote local lending and economic prosperity.
Keynote speakers at this year’s summit included Consumer Financial Protection Bureau acting director Mick Mulvaney, comptroller of the currency Joseph Otting, Senate Banking Committee Financial Institutions Subcommittee Chairman Patrick Toomey, pollster and political analyst Kristen Soltis Anderson,and Conference of State Bank Supervisors President and CEO John Ryan.
“Community banks like Community Spirit serve a critical role in ensuring our nation’s financial system remains vibrant and diversified – leading to more consumer choice,” said Brad M. Bolton, President/CEO at Community Spirit Bank in Red Bay. “Coming to Washington to meet one-on-one with our elected representatives is imperative to ensuring the community bank perspective is heard loud and clear, especially with meaningful regulatory reform and the opportunity for our community’s economic prosperity within our grasp.”
In meetings with Congress, Community Spirit Bank advocated:
- immediate passage of regulatory relief legislation inspired by ICBA’s Plan for Prosperity platform, given the strong momentum from the bipartisan Senate passage of S. 2155, which the president pronounced he would sign into law,
- modernizing the Bank Secrecy Act to more effectively target money laundering and terrorist financing while reducing community bank burden and expense,
- ending the unjustified credit union tax subsidies and the National Credit Union Administration’s unreasonable actions to expand credit union activities beyond their statutory limits,
- passing a new farm bill that supports commodity prices, enhances USDA guaranteed-loan programs, preserves crop insurance funding, and returns the Farm Credit System to its primary mission of serving bona-fide farmers and ranchers, and
- advancing housing-finance reform that builds on what is working today and preserves secondary market access for community bank mortgage lenders.
