I extend my heartfelt gratitude for your unwavering commitment to serving our communities with integrity and personalized care. In a financial landscape increasingly dominated by large, national institutions, your dedication ensures that local businesses, families and farmers have access to the trusted, relationship-based banking they need to thrive.

However, our ability to serve effectively is profoundly influenced by decisions made in Washington, D.C. It’s imperative that we collectively advocate for policies that recognize and support the unique needs of community banks. 

A group of our community banker members and I did just that recently as part of the ICBA’s Capital Summit, where we met in person, one-on-one with four of the five members of Nebraska’s congressional delegation to discuss issues of importance to our state’s community banks. Those priorities, which I have included a brief description of below, are essential to lowering regulatory burden and fostering an environment for continued community bank success.

• Oppose the CFPB’s Section 1071 Rule: This rule mandates extensive data collection on small business credit applicants, imposing significant burdens on community banks. We support legislative efforts to repeal or reform this requirement to protect both banks and small businesses. 
• Major Tax Legislation: With the impending expiration of the 2017 Tax Cuts and Jobs Act, it’s crucial to extend provisions that benefit Subchapter S banks and small businesses, such as the Section 199A deduction and the current estate tax deduction. 
• Tax Credit Unions with Assets Over $1 Billion: Large credit unions operate similarly to commercial banks but enjoy tax exemptions and freedom from most of the same regulations. Taxing these entities would promote a fair competitive landscape and generate significant revenue to offset tax cut legislation.
• Access to Credit for Rural Economies (ACRE) Act: This bipartisan legislation would create a tax exclusion for interest on loans secured by farmland and residential mortgages in towns under 2,500 population, directly benefiting Nebraska’s rural communities. 
• Ensure Stablecoin Frameworks Don’t Harm Community Banks: As digital currencies evolve, it’s essential to establish regulatory frameworks that mitigate risks without disadvantaging community banks. We emphasized the need to prevent nonbank issuers from accessing Federal Reserve accounts and to limit activities of big tech companies that could disrupt traditional banking services. 

Your active participation in advocacy efforts — whether through direct communication with state and/or federal legislators, participation in the ICBA Capital Summit, or engagement in local initiatives — is vital. When policymakers hear from dedicated professionals like you, who understand the unique challenges and opportunities within our communities, it reinforces the importance of supporting community banks in our state. 

Together, we can influence policies that ensure community banks continue to serve as pillars of economic stability and growth in Nebraska.