Academic journal article ABA Banking Journal

Accent on Teamwork

Academic journal article ABA Banking Journal

Accent on Teamwork

Article excerpt

It was one year ago that ABA and the state bankers associations introduced their joint program to cut government red tape.

Don Childears, executive vice-president of the Colorado Bankers Association, described it as "the most ambitious cooperative effort between the state associations and ABA that I've ever been associated with. "

Besides Childears, who then chaired the ABA State Association Division, the original state-exec working group included Walter Ayers of Virginia, Roger Beverage of Oklahoma, Ballard Cassady of Kentucky, Larry Kurmel of California, Mike Smith of New York, and Harold Stones of Kansas.

What's happened since?

Expanded drive. ABA's executive vice-president, Don Ogilvie, described last year's joint effort as a way to focus the attention of Congress and the public "not just on the need for less regulation, but on how to achieve it. "

For that reason, the red tape plan made 20 specific recommendations. And one of the earliest victories was passage last fall of the Housing and Community Development Act of 1992.

The housing bill confirmed regulators' right to set de minimis appraisal levels and exempted lenders from certain Real Estate Settlement Procedures Act and Truth in Savings Act burdens. It clarified that interest-rate limits on adjustable-rate loans apply only to consumer, not commercial, loans, and it eased aggregate limits on loans to insiders. The bill also eased a provision in the FDIC Improvement Act that permitted regulators to set executive pay scales, and it gave banks safe harbor from civil liability when reporting potential money-laundering violations.

Then in late January, five senators introduced a bill containing virtually all of the recommendations worked out jointly by ABA and the state associations. …

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