IBAT Chairman John Jay, along with Chris Williston and Steve Scurlock, made the trek to Washington, D.C. last week to meet with key players as the 114th Congress gets underway. Commissioner Charles Cooper was also in attendance at a number of the meetings, which is always appreciated.
In addition to very cordial and productive meetings with “the new guys” - Congressmen Babin, Hurd and Ratcliffe - we also had frank and candid discussions with a number of the members of the House Financial Services Committee from both Texas and elsewhere who will play vital roles in moving positive legislation for community banking. We also had the opportunity to discuss community banking issues, logistics and timing with senior staff of both the House Financial Services and Senate Banking Committees.
“The time for action on community banking issues is now,” said Chris Williston, IBAT President and CEO. “There is a tremendous amount of legislation needed to fix the numerous challenges facing the community bank sector, and our hope is that many of these can be addressed early in the 114th Congress. With that said, our hope at this juncture is to quickly move legislation that will allow community banks to make in-portfolio mortgage loans without the expensive and counterintuitive impediments added by a mountain of new regulation.”
IBAT is grateful for the continued cooperative efforts we have with ICBA to effect meaningful and timely regulatory burden relief and looks forward to working with this Congress to achieve some long-overdue changes in an unsustainable regulatory environment.