Pub. 10 2019 Issue 2

www.wvbankers.org 12 West Virginia Banker An important reform of the rules governing reciprocal deposits will make it easier for community banks to compete for the business of large depositors. T he recent bank reform bill made a lot of news, but what may surprise you is the specific provision of the economic growth, regulatory relief, and Consumer Protection Act that community bankers believe will have the biggest impact on their daily business. Before the bill became law, a lot of attention was placed on the provision raising the systemically important financial institutions, or SIFI, threshold from $50 billion to $250 billion in assets, above which banks must contend with a heavier compliance burden. Relief for Community Banks in the Competition for Deposits By Erich Buckenmaier, Regional Director at Promontory Interfinancial Network, LLC