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Community Banks Demand Call Report Relief

Joe Mont | July 28, 2014

Claiming that increasingly common malady of modern business – disclosure overload – a coalition of community bankers is petitioning regulators for relief.

The Independent Community Bankers of America, a group that represents 6,500 community banks, has launched a petition drive that seeks relief from “increasingly onerous quarterly reporting requirements” as part of what it calls its “war on community bank regulatory burden.” The petition, which will ultimately be delivered to the Federal Financial Institutions Examination Council, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Federal Reserve, calls upon them to reduce current call report requirements and streamline reporting rules.

Call reports, formally known as the Consolidated Report of Condition and Income,...

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