Academic journal article ABA Banking Journal

It Has Been an Honor

Academic journal article ABA Banking Journal

It Has Been an Honor

Article excerpt

It is that time of year when transition occurs at ABA. A new chairman and a new team of officers will be elected at our annual convention.

In my year as chairman, I've gotten to know so many bankers and affirmed my understanding of their commitment to their communities. You've trusted me to represent you to members of Congress, the White House, and in international meetings.

Being chair is more than an honor. It's an opportunity to draw attention to current and future issues that our industry must focus on to stay in the game.

Over the past 12 months, I've been speaking and writing about the importance of getting bankers back to the business of banking. My goal has been to help us focus on customers and communities as we adapt to the competition and respond to the ever-shifting regulatory landscape. It truly requires all of us to have a commitment to optimism, courage, and relevance.

Optimism confirms our belief in our industry and the role we play in the American economy. Courage reminds us to stand up and defend banks and banking when others would blame us for all the world's economic ills. Relevance reminds us to never forget to keep our banks connected to customers' changing needs.

Our commitment to the business of banking is showing results. Recent surveys show we are right in saying that excessive regulation leads to tighter credit standards, higher costs, and slower economic growth and job creation. By standing up for our industry, ABA won banks some relief from Volcker Rule provisions, including Trups/CDO penalties; alerted policymakers to credit union and Farm Credit System abuses; gained some relief for Sub S banks that are disadvantaged by Basel III's capital buffer provisions; and helped fix flaws in flood insurance reform law. …

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