The Communities First Act (HR 1697) continues to make progress in Washington. The bill is an ICBA initiative and is aimed at specific regulatory burden and tax relief for community banks. A Subcommittee heard the bill last November and additional action is expected in the coming months. The cosponsor tally is currently at 71 which include Texas lawmakers, Canseco, Marchant, Poe and Sessions. The Senate version of this initiative, S. 1600, has been cosponsored by Senator Hutchison.
For more information on the Communities First Act, visit IBAT.