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Representing Community Banks at House Small Business Committee Hearing, BCT-Bank of Charles Town's Alice Frazier Urges Regulatory and Tax Relief to Promote Lending
Representing Community Banks at House Small Business Committee Hearing, BCT-Bank of Charles Town's Alice Frazier Urges Regulatory and Tax Relief to Promote Lending.
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[{"type":"text","content":"\n\n\n\nRepresenting Community Banks at House Small Business Committee Hearing, BCT-Bank of Charles Town's Alice Frazier Urges Regulatory and Tax Relief to Promote Lending\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nRepresenting Community Banks at House Small Business Committee Hearing, BCT-Bank of Charles Town's Alice Frazier Urges Regulatory and Tax Relief to Promote Lending\nPR Newswire\nCHARLES TOWN, W.Va., Feb. 6, 2025\n\n\n\nCHARLES TOWN, W.Va., Feb. 6, 2025 /PRNewswire/ -- (OTC:PTBS) - Yesterday at the first House Small Business Committee hearing of the 119th Congress, Alice P. Frazier, President and CEO of BCT-Bank of Charles, spoke on behalf of the Independent Community Bankers of America (ICBA) today calling on lawmakers to advance regulatory and tax relief that will further enhance lending to the nation's small businesses. She also advocated for policies to spur economic growth and job creation in local communities. Ms. Frazier is also Vice Chair of the ICBA.\n\n \n \n \n \n \n \n\n \n\"The new Congress and administration present an opportunity to transform the regulatory environment for community banks, sparking economic growth in rural, suburban, and urban markets,\" Frazier said. \"While we are ready to lend today to all qualified borrowers, our capacity could be yet further enhanced by regulatory and tax relief that would allow us to direct more resources toward helping our customers.\"\nNoting that community banks account for an outsized share of the nation's small-business loans due to their relationship-based business model that sets them apart from larger, out-of-market lenders, Frazier encouraged policymakers to:\nProvide relief from the Consumer Financial Protection Bureau's 1071 small-business data collection and reporting requirements through Chairman Roger Williams' 1071 Repeal to Support Small Business Lending Act.Advance tiered regulations through a comprehensive update of regulatory thresholds.Preserve and expand a pro-growth tax environment, such as by extending Section 199A of the Tax Cuts and Jobs Act for pass-through business.Facilitate...