Safeguarding the Recovery

ICBA has a robust legislative agenda in 2012. Advancing the Communities First Act's many tax- and regulatory-relief provisions and halting the credit union industry's business-lending legislation are full-time initiatives, but certainly not the association's only priorities. ICBA is also working diligently to continue full FDIC coverage of noninterest-bearing transaction accounts beyond 2012. Community bankers have come out swinging on the issue. ICBA members have sent more than 2,500 letters to Congress in support of extending the FDIC program. ICBA and community banks by an overwhelming number want to continue the full FDIC transactions account coverage to prevent harmful consequences from liquidity shifting out of the community banking sector and more than $1.2 trillion in transaction-account deposits becoming uninsured. ICBA wants to make sure small businesses have the continued deposit-protection levels they need at their local community bank.