Community Bank Group Chief Camden Fine to Retire in 2018

Independent Community Bankers of America President and Chief Executive Camden Fine announced Tuesday that he plans to retire in May 2018.

Fine, who has long rallied Capitol Hill for small bank regulatory relief, has worked for the community bank trade association since 2003. Rebeca Romero Rainey, ICBA’s former chairwoman, will succeed him, the group’s current chairman Scott Heitkamp announced Tuesday.

The announcement of Fine’s upcoming departure came on a significant day for small banks clamoring for overhauls of Dodd-Frank regulations. It coincided with a rallying cry for such changes from House Financial Services Committee Chairman Jeb Hensarling (R-Texas) at ICBA’s Capital Summit conference in Washington. Hensarling is set to lead a markup Tuesday of his revised Dodd-Frank replacement legislation, the Financial CHOICE Act.

In remarks at Tuesday’s ICBA summit, Hensarling pitched his bill as a vehicle for community banking regulatory relief, echoing to President Donald Trump’s call to “do a big number” on Dodd-Frank. “House Republicans stand ready to do just that,” Hensarling said at the event. “We are going to throw you a deregulatory life preserver to save our community banks.”

The Consumer Bankers Association, another prominent banking trade group, offered praise for Fine on Tuesday.

“For nearly 15 years, Cam provided ICBA with strong, effective and passionate leadership,” the group’s president and chief executive, Richard Hunt, said in a statement Tuesday, adding that he has “developed a deep respect for Cam on both a professional and personal level.”


Finance Brief: Week in Review & What’s Ahead

Members of President Donald Trump’s Strategic and Policy Forum, an advisory group of business leaders, decided to disband after Trump blamed the violence in Charlottesville, Va., on both white nationalists and the protesters who opposed them. Later, Trump announced the dissolution of that group and of an advisory panel on manufacturing. JPMorgan Chase & Co. Chief Executive Jamie Dimon, a Strategic and Policy Forum member, said in a memo to employees that he “strongly” disagreed with Trump’s comments.

Finance Brief: Week in Review & What’s Ahead

California Insurance Commissioner Dave Jones said the state will investigate whether or not Wells Fargo harmed hundreds of thousands of customers by selling them car insurance they didn’t need. The probe follows subpoenas issued by New York state’s banking and insurance regulator to two Wells Fargo units last week.

Finance Brief: Labor Department Seeks 18-Month Delay on Fiduciary Rule

The Labor Department said in a court filing that it was seeking an 18-month delay on the fiduciary rule, which requires financial advisers to act in retirement savers’ best interests. The agency filed the document as part of a lawsuit in the U.S. District Court for the District of Minnesota, in which it said that it was proposing to push the compliance date to July 1, 2019, and loosening some of the rule’s restrictions.

Load More