Big Day for Community Banks: Finally Assessment Parity!

It’s been years coming. Some said it would never happen, some laughed at our attempts and some heaped scorn on us for even trying. But ICBA and the community banking industry’s long quest for parity in deposit-insurance assessments became a reality today.

The FDIC board of directors approved a final plan to base deposit-insurance assessments on total assets minus tangible capital instead of domestic deposits. ICBA has long advocated for this change, which will bolster the FDIC Deposit Insurance Fund and lower premiums for most community banks.

ICBA and the nation’s community bank fought an uphill battle for deposit-insurance fairness against fierce opposition, and we prevailed. Today’s FDIC vote shows that  by fighting for what is fair for the community banking industry, ICBA and its member banks can achieve results that will have a significant positive impact on your bank for years to come.

One thought on “Big Day for Community Banks: Finally Assessment Parity!

  1. It’s about time that all banks are not painted with the same brush. The differences between Community Banks and Wall Street “Banks” can only be measured in light years. You didn’t cause the problems. You shouldn’t have to pay for them. Congratulations ICBA!

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s