Academic journal article ABA Banking Journal

FSLIC Has Priority, but It's Not the Only Issue

Academic journal article ABA Banking Journal

FSLIC Has Priority, but It's Not the Only Issue

Article excerpt

FSLIC has priority, but it's not the only issue

With the first session of the 101st Congress about half over, it's worth a look back at the banking industry's progress in 1989 and ABA's role in maintaining a strong, respected presence for banks in the nation's capital.

Thrift crisis. The FSLIC package has been uppermost in the minds of everyone concenred with the future of the financial services industry. ABA was the first major trade association to develop specific recommendations on resolving the thrift crisis. Those recommendations eventually became a major component of the Bush Administration's plan.

Part of ABA's strategy was to inform Congress and the Administration, as well as major news organizations, of the industry's views on key issues. For example, in dozens of meetings and hundreds of phone interviews with the media, ABA stressed the importance of tough capital guidelines for thrifts. Association representatives also attacked attempts to deflect the focus of the debate with unlrelated issues, such as consumerist measures. These arguments were reflected in editorials across the country.

Sometimes the debate centered on specific issues, such as whose sticker should go on the door. This became an important issue for many community banks, and ABA fought hard--and successfully--to head off any proposal to allow thrifts to use the FDIC logo.

Multiple-front war. Even as the immense, complex FSLIC package moved through Congress, ABA worked on many other matters.

For example, ABa took an early and aggressive stand on the credit union issue and laid the groundwork for a broad new assessment of the role of these institutions. ABA has called for taxation of credit union profits and for restoration of the "common bond" concept to limit aggressive expansion by some credit unions. …

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