Independent Banker - February 2019 - 7

FLOURISH
" I know many of these
successes took years,
but our efforts are
paying off. "
Rebeca Romero Rainey
President and CEO, ICBA
It never ceases to amaze me how powerful we
are when we work together, community bankers.
Since sharing our advocacy successes with
you in December, I've been thrilled to see more
hard-fought victories come our way. And it's not
by luck-it's through years of telling our unique
stories and making our voices heard.
First and foremost, we have a new farm bill-
something that is good for American agriculture
and for community bankers' ability to provide
credit to support their local economies. The adoption
of the ICBA-backed legislation is remarkable,
given we were told that the most likely outcome
would be a one-year extension, thus pushing the
legislation's enactment into the next Congress.
The law includes commodity price protections
that will give producers and community banks
greater business-planning certainty over the next
fi ve years. This is essential during an era of low
commodity prices, sharply lower net farm income
and foreign trade uncertainties. It also maintains
a strong crop insurance program, increases USDA
guaranteed farm loan limits to $1.75 million and
provides for the possible increase in guaranteed
USDA rural development loans-all of which are
ICBA and community bank priorities.
But the good legislative news doesn't stop
there. Appraisals are also on the table. As a community
banker in Taos, N.M., I know appraisals
Where I'll be
this month
I'll be heading to
the Wisconsin
Bankers
Association
annual
convention and
the Independent
Bankers
Association of
Texas regional
meetings.
can cause delays and increase the cost of the
lending process for consumers. So, I was thrilled
to see that the regulatory agencies are aiming
to improve appraisal regulations. As you may
have seen in our Main Street Matters blog, the
agencies responded to industry requests with a
proposed rule to increase the threshold where
bankers could use a property evaluation in lieu of
a full appraisal-completed by a licensed or certifi
ed appraiser-for mortgage loans they retain in
portfolio. The agencies are proposing to increase
this threshold from $250,000 to $400,000.
And while S.2155 provided for similar relief for
banks in rural markets, the agencies' proposed
rule would expand that relief to all institutions
and markets. That's a meaningful result for all
community banks!
Finally, many of you received a share of the
$750 million in assessment credits triggered by
a healthy Deposit Insurance Fund reserve ratio.
See Tim Zimmerman's column for more on this.
I know many of these successes took years, but
our eff orts are paying off . As we begin to work
with the new Congress, know that ICBA is here
for you every step of the way.
Connect with Rebeca @romerorainey
independentbanker.org Q 7
http://www.independentbanker.org
Independent Banker - February 2019

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