lobbying_activities: 2594359
Data license: Public Domain (U.S. Government data) · Data source: Federal Register API & Regulations.gov API
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| id | filing_uuid | filing_type | registrant_name | registrant_id | client_name | filing_year | filing_period | issue_code | specific_issues | government_entities | income_amount | expense_amount | is_no_activity | is_termination | received_date |
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| 2594359 | 9c3cea57-0851-4e34-b066-b987fad81c01 | Q1 | COMMUNITY BANKERS ASSOCIATION OF ILLINOIS | 400531588 | COMMUNITY BANKERS ASSOCIATION OF ILLINOIS | 2021 | first_quarter | AGR | CBAI 2020 Federal Policy Priorities - Community Bank Response to the COVID-19 Crisis COVID-19 has focused community bank efforts on helping their individual and small business customers and their communities weather the virus crisis and assist in the recovery effort. This was a commitment above and beyond what was normally expected, but one which community bankers were happy to fulfill. Community banks stepped-up during the crisis despite the many challenges and frustrations they encountered. They should be commended for what they are doing, treated fairly and equally, encouraged to do more, and not penalized for successfully performing their essential function. The Independent Community Bankers of Americas Legislative and Regulatory Agenda Contained in their Community Focus 2020: The Community Bank Agenda for Expanding Economic Opportunity CBAI joins the Independent Community Bankers of America (ICBA) in supporting a more efficient system of regulation, unbiased laws governing the financial sector, a safer and more secure business environment, and more efficient agricultural policies to support the nations economic growth and development in every corner of the country. Completing the Implementation of the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) The banking regulators have almost completed implementing S. 2155 so community banks can benefit from all of the regulatory relief measures. Community bankers, the associations that represent their interests, and Congress (which represent this vital economic constituency) must diligently insist on the swift completion the rulemaking - consistent with Congressional intent. Additional Meaningful Regulatory Relief for Community Banks Community bankers seek additional regulatory relief including on several fronts (i.e., BSA reform, CTRs , SARs, tax exempt interest on agricultural and small business loans, and beneficial ownership reporting) to permit them to serve their customers and communities better and more efficiently. The Community Bank Position on Credit Unions and Their Expanded Powers Credit unions have long-since strayed from their founding purposes, blatantly abusing their competitive advantages and are virtually indistinguishable from tax-paying community banks. Credit union acquisitions of community banks is a recent and disturbing trend that negatively impacts all taxpayers. This escalation of credit unions abusing of their tax-exemption should prompt Congress to Wake Up and act - NOW. This abuse is an existential threat to community banks and the communities they serve. The Community Bank Position on the Farm Credit System and its Expanded Powers The Farm Credit System (FCS) has long-since strayed from its founding purposes, blatantly abusing its competitive advantages against community banks. The FCS is the only GSE that competes directly with community banks. This blatant and continuing discrimination against community banks must end and FCS competitive advantages must be reined-in and the playing field leveled for community banks. The Federal Reserves Role in Payments System Improvement A fast and secure payments system is the very foundation of financial services and economy and must be modernized. The payments system must not be monopolized by The Clearing House and its 25 large bank owners that endangered our financial system and the entire economy during the financial crisis. Community banks, small businesses and consumers must rely on the Federal Reserve to provide access to a safe and secure payments system. The Federal Reserve must be supported in its development of the FedNow Service to ensure that all participants have access to a real-time system on a fair and impartial basis. Modernizing the Community Reinvestment Act (CRA) The modernization of the CRA must enhance the ability of community banks to serve their communities and must not impose any additional regulatory burden. All financial service providers must be subject to the CRA to provide a complete picture of every financial institutions performance in serving their communities. A modernization of the CRA that does not encompass credit unions, Farm Credit System lenders and Fintechs (including the OCCs Special Purpose National Banks) will be a sham. Safe Harbor for Banking Cannabis-Related Businesses Without taking a position on the legalization of cannabis, it is a matter of public safety to have a safe harbor from federal sanctions for financial institutions that choose to serve legally-compliant cannabis-related business in states where cannabis is legal. CBAI has expressed its support in Congress for the Secure and Fair Enforcement Banking Act of 2019 (H.R. 1595) which provides this legal safe harbor. Sound Principles for GSE Reform The seemingly endless and ongoing period of government ownership and control of Fannie and Freddie must come to an end. GSE reform remains critically important to the future of the housing market and the U.S. economy. The GSEs must provide a steady and reliable source of funding for home mortgage lending for lenders of all sizes and through all economic cycles. This is particularly critical to maintaining liquidity when the markets are experiencing financial stress. The Federal Home Loan Banks Most community banks are members and shareholders of their regional Federal Home Loan Bank (FHLB). The FHLBs provide short-term liquidity, long-term funding, mortgage-related products, and other financial services in order to help their members provide affordable credit to the local communities they serve. The regional structure, special functions, and unique purpose of the FHLBs must be recognized and maintained by the Federal Housing Finance Agency (FHFA). As the Administration and Congress consider reforming the housing finance system, care must be taken not to harm the FHLBs. They must remain healthy, stable, and reliable sources of funding for their members. Agriculture and Rural America A vibrant rural economy is vital to Americas prosperity. The multi-year Farm Bill provided a strong safety net for farmers and ranchers including adequate price-protection programs and enhanced USDA-guaranteed farm and business loan programs. These programs must be protected from cuts or any adverse changes that would discourage farmer and rancher participation or undermine private-sector delivery. Enhanced Data, Cyber and Payment Card Security (Data Security) Enhanced security standards should be enforced through a tiered system where the more restrictive rules and are imposed on the largest and most critical members of the financial system and economy where their lapses pose the greatest threat to the largest number of consumers. Core data security principals in standards enacted by legislation and regulations must include the complete cost of data breaches being borne by that party that caused the breach; all participants should be subject to verifiable Gramm-Leach-Bliley Act-like data security standards; and any new data security standard proposals should ensure that community banks are not overburdened with redundant standards. The Community Bank Positions on Emerging Issues CFPB - Small Business Data Collection Small business lending data clearly suggests fair lending is not a problem at community banks as they treat their customers honestly and fairly. The regulatory burden of the collection and reporting requirements fall disproportionately hard on community banks, and Section 1071 should either be repealed, or community banks should be provided with a meaningful exception. Finally Address the Risks of Too-Big-To-Fail Banks and Financial Firms to Protect Our Financial System, the Economy, and American Taxpayers from Future Bailouts The financial crisis, taxpayer bail-outs, and subsequent recession was caused by the misconduct of the nations largest banks and financial firms. These megabanks have proven, at great cost to American taxpayers, that they cannot be effectively managed, supervised or disciplined. They are clearly too-big-to-change, too-big-to-fail and must be downsized. (House, Senate, CFPB, OCC, FDIC, Federal Reserve) Legislation and Regulation - Beginning Agriculturalist Lifetime Employment Act of 2021 (BALE Act (no bill number yet) (All Sections) Regarding increasing the percentage of USDA loan guarantee for beginning farmers or ranchers or socially disadvantaged farmers or ranchers (House) H.R. 1799 - PPP Extension Act of 2021 (All Sections) Regarding extending the Paycheck Protection Program through June 30, 2021 (House and Senate) H.R. 1977 - Enhancing Credit Opportunities in Rural America Act (ECORA) (All Sections) Regarding exempting from taxes interest earned on loans from farm real estate and rural mortgage loans (House and Senate) H.R. 1996 - SAFE Act (All Sections) Regarding safe harbor for banks that choose to provide financial services to cannabis related businesses (House) Letters - Comment Letter to the Federal Reserve regarding: Community Reinvestment Act - Advance Notice of Proposed Rulemaking - Docket No. R-1723 and RIN 7100-AF94 (Federal Reserve House, Senate, OCC, FDIC) Action Alerts - Action Alert regarding fixes to the Paycheck Protection Program (PPP) including - small businesses not being able to borrow up to the maximum first round draw amount, in spite of a legislative rule change for the second round, because the small business had been granted first round PPP forgiveness; small businesses with modest shortfalls in using first draw dollars should be eligible for second draw loans; and self-employed farmers and ranchers should be permitted to use the gross income method so they have access to the PPP (House and Senate) Action Alert regarding cosponsoring H.R. 1977 - Enhancing Credit Opportunities in Rural America Act (ECORA) which exempts from taxes interest earned on loans from farm real estate and rural mortgage loans (House and Senate) Miscellaneous - Potential reintroduction of legislation to exempt community banks from taxation on income from small dollar amount small business and agriculture loans to begin to provide parity with Farm Credit lenders and credit unions (Senate) Paycheck Protection Program (PPP) CBAI member polling results (House, Senate, CFPB, OCC, FDIC, Federal Reserve) Paycheck Protection Program (PPP) issue with small businesses not being able to borrow up to the maximum first round draw amount, in spite of a legislative rule change for the second round, because the small business had been granted first round PPP forgiveness (House, Senate, CFPB, OCC, FDIC, Federal Reserve) US Postal Service banking, Farm Credit System lending (preferential treatment and unfair competition with community banks, and fraud in the Paycheck Protection Program (PPP) lending - SBA IG Report (Number 20-21) and Bloomberg Businessweek headline PPP Scammers Made Fintech Companies Their Lenders of Choice (Senate) Paycheck Protection Program (PPP) - ramping the reduction in gross receipts (versus all or nothing) to enable more small business borrowers to qualify for the second round of PPP funding (House) | Consumer Financial Protection Bureau (CFPB),Federal Deposit Insurance Corporation (FDIC),Federal Reserve System,HOUSE OF REPRESENTATIVES,Office of the Comptroller of the Currency (OCC),SENATE | 60000 | 0 | 0 | 2021-04-13T15:15:27.460000-04:00 |