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 12, 2003 #03-20
E-mail: [email protected]

ACB COMMENTS ON DEPOSIT INSURANCE REFORM PROPOSAL

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Statement by Robert R. Davis, executive vice president and managing director of government relations, America’s Community Bankers, on the legislation proposed today on deposit insurance reform by the Treasury Department and the federal bank regulators:

America's Community Bankers is pleased that the Treasury Department and the bank regulatory agencies released a proposed deposit insurance reform bill today that addresses several provisions that we've long supported.

However, we are disappointed that the bill does not seriously address problems created by free-riders which significantly dilute the fund. We are also concerned that the lack of mandatory rebate provisions will result in a tendency to over capitalize the deposit insurance fund, limiting banks' ability to meet community credit needs.

ACB looks forward to working with the administration and the Senate Banking Committee to address these issues.

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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