Washington, D.C. (Jan. 25, 2021) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on Janet Yellen's confirmation for Treasury secretary.
"ICBA and the nation's community bankers congratulate Janet Yellen on her confirmation to serve as the next Treasury secretary. As former Federal Reserve chair, Council of Economic Advisers chair, and Federal Reserve Bank of San Francisco president, Dr. Yellen understands the vital role that community banks serve in local communities and their leading role in addressing the economic challenges of the coronavirus pandemic.
"The financial, tax and regulatory policies advanced by Treasury have a genuine impact on the community banking sector’s ability to continue serving their individual and small-business customers nationwide. ICBA and community bankers look forward to continuing to work with Secretary Yellen as we support economic recovery in local communities."
The Independent Community Bankers of America creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.
With nearly 50,000 locations nationwide, community banks constitute 99 percent of all banks, employ more than 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $5 trillion in assets, over $4.4 trillion in deposits, and more than $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.
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