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 4, 2006 #06-25
E-mail: [email protected]

ACB STATEMENT ON THE SENATE REGULATORY RELIEF BILL

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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 reported today by the Senate Banking Committee:

The action today by the Senate Banking Committee to unanimously report a regulatory relief bill for the banking industry is a significant step toward enacting comprehensive relief this year. We appreciate the efforts of Chairman Shelby and Sen. Michael Crapo in working together to craft a compromise bill.

We urge the Senate to pass this uniquely bi-partisan bill expeditiously. This will allow ample time for reconciliation with the bill overwhelmingly adopted by the House earlier this year, and for final passage.

In light of the increasing burdens already placed on highly regulated depository institutions, relief from outdated and unnecessary laws and regulations is essential to freeing up their time and resources to serve the financial needs of their communities.

Community bankers will work to 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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