Please Contact Senators Durbin and Duckworth Today!
The Time Is Now for Community Bank Regulatory Relief!
Only five minutes of your time is urgently needed - right now.
The United States Senate is poised to vote on significant bipartisan community bank regulatory relief - the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155). Please contact Illinois' Senator Richard Durbin and Senator Tammy Duckworth and ask them to support this critically important legislation. Take Action Now!
- Granting “Qualified Mortgage” (QM) status for portfolio mortgage loans by community banks (fewer than $10 billion in assets)
- Exempting certain community bank loans from escrow requirements (banks fewer than $10 billion in assets);
- Increasing exemption thresholds for Home Mortgage Disclosure Act (HMDA) reporting (500 open-end and 500 closed-end loans);
- Simplifying community-bank capital requirements (bans less than $10 billion in assets);
- Increasing eligibility for a short-form Call Report to restore proportionality to community-bank quarterly reporting (banks fewer than $5 billion in assets);
- Expanding eligibility for the 18-month regulatory examination cycle for community banks (banks fewer than $3 billion in assets);
- Easing appraisal requirements to facilitate mortgage credit in local communities;
- Exempting community banks from the Volcker Rule (banks fewer than $10 billion in assets);
- Improving regulatory treatment of reciprocal deposits and certain municipal securities.
Please share this Action Alert with your board members and senior management.
We need a strong response from all Illinois community bankers. Take Action Now!
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