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Federal Issues
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IBSC partners with our national organization, the Independent Community Banks of America (ICBA) to inform our members here in South Carolina about federal activities that affect community banks and their customers. ICBA has a broad reach with lawmakers, regulators and policy-setting boards and, through work with these bodies, ensures that the needs of community bankers are heard and met.

Featured Issues

  • Too Big to Fail

    A less concentrated and more diverse financial system will decrease systemic risk, improve competition and innovation, and increase the availability of consumer credit. Read more.

  • Mortgage Rules

    In January of 2013 the Consumer Financial Protection Bureau (CFPB) issued six final rules that will help govern mortgage lending.  These rules will have far reaching impacts on the mortgage market and shape mortgage lending for many years to come.  ICBA has developed this resource page to help community bankers understand the rules, help answer questions regarding their applicability to their banks, and prepare for implementation.  ICBA will continue to update this page as information and clarification of these rules becomes available. Read more.

  • Basel III

    Basel III capital standards take effect in 2015 for community banks.Key changes include the following: Community banks will have the option to exclude AOCI from inclusion in bank capital, risk weights will continue at their current levels for residential mortgages and TruPS will continue to be grandfathered in bank capital in accordance with the Collins Amendment. Read more.

  • Credit Unions

    The top priority for credit unions in this Congress is passage of the deceptively-named Small Business Lending Enhancement Act (H.R. 1418/S.2231) which would more than double the statutory member business lending cap for credit unions from 12.25% to 27.5% of total assets. Long subsidized by taxpayers due to their tax exemption, the credit unions' continued pursuit of expanded business lending powers calls into question the industry's commitment to serving the needs of its primary constituencies: individuals of modest means and those with a common or geographical bond. The Small Business Lending Enhancement Act would create unnecessary risk in the financial system, exacerbate the competitive advantage credit unions enjoy over community banks, and widen budget deficits at the federal, state and local levels. Read more.

  • FASB Petition

    The Financial Accounting Standards Board has proposed an Accounting Standards Update on credit losses that will require every community bank in the country to revise the way they account for their loan loss reserves (ALLL) and the way they account for their securities. Please read the Summary and Questions and Answers below. Also, we encourage you to send a comment letter to FASB (director@fasb.org) expressing your views on the proposal. A link to a sample letter is provided below. Please use this letter as a guide and customize to your bank’s specific concerns. Read more.

  • Plan for Prosperity

    In early 2013, ICBA developed and launched a comprehensive and flexible platform of regulatory relief legislation called The Plan for Prosperity. The Plan was presented to community bank allies in Congress with the goal of achieving targeted regulatory relief for community banks through tiered and proportionate adjustments to one-size-fits-all regulations implemented in the wake of the most recent financial crisis.

    So far, the Plan for Prosperity has been very well-received, resulting in the introduction and advancement of numerous bills that recognize the demand for tiered and proportionate regulations. If enacted, these bills will ensure that community banks can fully participate in powering our nation’s economic recovery in their respective communities. Read more.

  • Community Bank Call Report Burden - ICBA Survey Results

    View results here.


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