Community Bankers Association of Illinois

CBAI-Supported JOBS Act Signed Into Law

The Jumpstart Our Business Startups (JOBS) Act was signed into law on April 5, 2012, by President Obama. It contains a provision supported by ICBA and CBAI to raise the SEC registration threshold for financial institutions from 500 shareholders to 2,000 and adjusts the deregistration threshold from 300 to 1,200. The change will make it easier to community banks to raise capital without triggering expensive registration requirements. ICBA representatives attended the White House bill signing. See ICBA Release. ICBA has prepared a comprehensive Frequently Asked Questions document.

Two associate member law firms have also prepared analyses of the JOBS Act as follows: See Hinshaw & Culbertson LLP Memorandum. See Howard & Howard Attorneys PLCC Advisory.

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