TAMPA, Fla., June 27, 2017 (GLOBE NEWSWIRE) -- This past Thursday, Independent Community Bankers of America and staff met with Consumer Financial Protection Bureau representatives in Washington D.C. to discuss concerns with data collection and reporting requirements being developed by the bureau.
Jack Barrett, president and CEO of First Citrus Bank along with three other ICBA community bankers explained the operational difficulties of collecting, maintaining and submitting burdensome data points required under Section 1071 of the Dodd-Frank Act disproportionately hinder community banks; adversely impacting small-business lending.
“We are one step closer to reducing this regulatory burden; liberating community banks to focus on lending and enhancing vibrancy in their communities,” said Jack Barrett.
ICBA’s Plan for Prosperity - is a pro-growth platform to eliminate onerous and unnecessary regulatory burdens that inhibit lending and innovation.
About First Citrus Bancorporation, Inc.
First Citrus Bancorporation, Inc. is a Florida corporation and the parent bank holding company for First Citrus Bank, a Florida commercial bank. First Citrus Bancorporation, Inc. is headquartered in Tampa, Florida. Stock trades on the OTCPink under ticker symbol “FCIT.”
About First Citrus Bank
First Citrus Bank, a $333 million commercial bank, was established in 1999 and headquartered in Tampa. Ranked as one of the Top 25 Commercial Loan Producers in the Nation by IB Independent Banker Magazine, it serves businesses and individuals through a range of tailored financial solutions designed to fit their needs. Specializing in retail and commercial banking services, the Bank has five locations throughout Tampa Bay.
First Citrus Bank creates a more vibrant Tampa Bay through financing economic growth at the local level. For additional information, please visit http://www.firstcitrus.com.