WASHINGTON-The Independent Community Bankers of America applauded the proposed streamlining of Community Reinvestment Act reporting standards in their official comment letter. The proposal would increase the minimum size of bank having to report on the long form from $250 million to $500 million. However, ICBA thought an even greater increase would be appropriate to at least $1 billion, if not $2 billion. Increasing the limit to $1 billion, which is included in separate bill, would impact another 524 banks. “The ICBA applauds the federal banking agencies and members of Congress for recognizing that it is time to expand this critical burden-reduction benefit to larger community banks,” ICBA Executive Vice President Karen M. Thomas wrote. “These measures would allow more community banks to focus on what they do best-fueling America’s local economies.” According to ICBA, examining a $500 million-asset bank under “large” bank CRA exam procedures does not make sense in an age of trillion dollar banks.

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