Legislative Items
Reform of Financial Institutions -- 1973
Hearings before the Subcommittee on Financial Institutions of the Committee On Banking, Housing and Urban Affairs
Letter to Congressman Jake Auchincloss
Congressman Auchincloss (D-MA) introduced the "Promoting New and Diverse Depository Institutions Act" (H.R. 4590), which was subsequently passed by the House Committee on Financial Services. While AMB supports the bill, AMB is seeking the inclusion of express chartering provisions to stimulate the formation of de novo mutual institutions.
Letter to Congressman Michael Grimm
A letter from the American Bankers Association to Congressman Michael Grimm (R-NY), who is a member of the House Committee on Financial Services, in support of his bill (H.R. 4217), the Mutual Community Bank Competitive Equality Act.
Regulatory Relief Bill
House Financial Services Committee Member Blaine Luetkemeyer (R-Mo.) formally introduced ICBA-advocated legislation (H.R. 1697) to reduce regulatory, tax and paperwork burdens on community banks and customers they serve. The bill does not address matters of specific concern to mutuals.
America’s Mutual Banks will be meeting with members of the House Financial Services Committee to obtain additional relief. We have also pledged to work with the ICBA and ABA to insert provisions relating to issues uniquely affecting mutuals.