Academic journal article ABA Banking Journal

They Came, They Heard, They Engaged: Record Turnout at ABA GR Summit Mirrors Industry Concerns

Academic journal article ABA Banking Journal

They Came, They Heard, They Engaged: Record Turnout at ABA GR Summit Mirrors Industry Concerns

Article excerpt

[ILLUSTRATION OMITTED]

Sitting at a table at the opening reception and dinner at ABA's recent Government Relations Summit was an interesting mix of people: three bank CEOs, a state association executive, a commercial lending officer, and a teller. Not only did record numbers of bankers respond to ABA's call to come to Washington for its March summit, but many banks sent employees from across the ranks. As an ABA leader observed, that means more of the industry "gets it." That is, they understand that in the current political environment and with the stream of new regulations from the Dodd-Frank Act rapidly swelling to a torrent, it's time to step up involvement. The cover story, p. 26, explains the challenge in more detail.

The 1,100 bankers in attendance heard a mix of reassuring and startling comments from a wide range of governmental speakers. They also took to Capitol Hill to press three key messages:

* Support the Financial Institutions Examination Fairness and Reform Act (H.R. 3461 and S. 2160).

* Oppose the raising of the business-lending cap for credit unions.

* Raise the shareholder threshold for SEC registration.

Shortly after the summit, the shareholder threshold was raised as part of the JOBS Act. More recently, a Senate vote on the credit union cap was postponed (thus, that issue remains a top priority.)

Bankers heard from one of their political heroes--Rep. Shelley Moore Capito (R.-W.Va.)--and gave her a standing ovation for her support. She introduced H.R. 3461 along with Carolyn Maloney (D.-N.Y.), and has helped advance the bill in the face of regulatory opposition. …

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