The Independent Community Bankers of America has released a petition in an effort to obtain regulatory relief from what it calls burdensome quarterly call reporting requirements.
"The call report is one piece of the overall regulatory tsunami that needs to be addressed before community banks are swept off the face of America's banking landscape," said Terry Jorde, ICBA's senior EVP and chief of staff.
"With 80 pages of forms to complete, more than 670 pages of instructions and another 57 pages recently proposed to implement the provisions of Basel III, the quarterly call report is reflective of the growing regulatory red tape strangling community banks," he said.
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