andy barr
FOTB SPOTLIGHT:
 Rep. Andy Barr (KY)

Representative Andy Barr was elected to the US House in 2012 and is a key advocate on the House Financial Services Committee for community banks. He also chairs the Subcommittee on Monetary Policy and Trade. Rep. Barr has been elected as a Republican in a district that is 58% Democratic, but is facing his toughest reelection this year.
 
"I have never seen a legislator give more time and attention to banking issues, nor understand those issues more fully, nor advocate for us with more tenacity, than has Andy Barr." 
 
 -Ballard Cassady, President & CEO, Kentucky Bankers Association  
Learn more and support Rep. Barr at his website: 
Time and Again, Rep. Barr is a Friend
 
A few of the many ways Rep. Andy Barr has been a Friend of Traditional Banking:
 
  • Co-sponsor of H.R. 1116, the TAILOR Actintroduced on February 16, 2017. Rep. Barr introduced this legislation with Rep. Tipton (CO), to require federal prudential regulators to regularly report to Congress about their new regulations, whether these rules are duplicative or unnecessary, what alternatives were considered, and why one regulator proposed a rule while another may not have found it necessary.   Last Congress: The Tailor Act passed out of committee 34-22 on 3/2/16.
 
  • Introduced the Portfolio Lending and Mortgage Access Act (H.R. 2226). This legislation establishes a legal safe harbor satisfying the Qualified Mortgage ("QM") Rule's ability-to-repay requirements for loans held on a bank's or credit union's portfolio. This reform will align the interests of borrowers and lenders- while protecting taxpayers and the financial system from a recurrence of the factors that contributed to the 2008 financial crisis. Passed out of committee 39-21 on 10/12/17. 
 
  • Introduced the Preserving Access to Manufactured Housing Act (H.R. 1699). This legislation amends the definition of "high-cost" loans so that manufactured homes no longer fall under this designation, which is harming access to affordable manufactured housing. Currently sales are down about 14% according to HMDA data. Passed House 256-163 on 12/1/2017.
 
  • Introduced the Taking Account of Bureaucrats' Spending (TABS) Act (H.R. 2553). This legislation would move the CFPB into the annual appropriations process, giving Congress oversight of its spending. Currently the CFPB draws its funding directly from the Federal Reserve, making it unaccountable to Congress and the American people.
 
  • Introduced the Expanding Proven Financing for American Employers Act (H.R. 3772). This bipartisan legislation prevents the disruption by new government regulations of the market for collateralized loan obligations- a sound, secure form of corporate financing that American companies use to expand and hire - including companies across Kentucky.
 
  • Introduced the Monetary Policy Transparency and Accountability Act (H.R. 4270). This legislation increases transparency at the Federal Reserve giving businesses and households greater clarity about future monetary policy changes.
 
  • Sponsored H.R. 1259, the HELP (Helping Expand Lending Practices) in Rural Communities Act on March 4, 2015. This bipartisan legislation fixes the problem of the CFPB incorrectly designating rural counties around the country, including Bath County, as "non-rural," which limits lending in rural communities. Passed the House 401-1 on 5/6/15. Became law 12/4/15 as part of H.R. 22, the FAST Act.
 
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Alert! You Have Another Alert!

More and more banks are trying to convince regulators, and themselves, that they have the capabilities to monitor, manage and respond to the endless cycle of alerts while successfully running their bank and taking care of their clients. Some would call that insanity.
 
Read the full article here: http://blog.bankonitusa.com/?q=node/73
 
PAID for by Friends of Traditional Banking. NOT authorized by any candidate or candidate's committee.
Friends of Traditional Banking is a non-partisan grassroots effort organized by bankers in 2012 to improve the political and regulatory environment for the traditional banking industry in the U.S. FOTB is the inverse of a PAC--instead of spreading a little bit of money to a lot of campaigns, they focus a lot of money on a couple of key campaigns. 
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