Friends of Traditional Banking logoBanking & Political Report
May 22, 2013

Thousands of Friends rallying to support traditional banking!

 Friends of Traditional Banking is growing like never before and this month passed the 2,000 member mark! With Friends in all 50 states and the District of Columbia, a powerful voice is building that will be heard loudly in the 2014 Congressional elections. If you know someone who is a Friend of traditional banking, nominate them!  You might win a free iPAD mini!  It's easy, here's how.

Dodd-Frank especially tough on community banks, says new report
The Dodd-Frank Act is making it harder for small businesses and people in rural areas and small towns to access financial services, an American Enterprise Institute report found this month. The report examined how community banks are faring under Dodd-Frank's provisions.

"Community banks were not responsible for the causes of the financial crisis determined by the authors of Dodd-Frank," the report said. Yet, it found, banks with under $10 billion in assets are bearing a significant regulatory burden. 
Read the report.

Senator seeks to unleash federal tax subsidies against traditional banking!  

Sen. Mark Udall (D-Colo.) reintroduced legislation this month that would unleash tax-subsidized competition against traditional banks by allowing tax exempt credit unions to more than double their commercial lending authority.  Credit unions were given a tax exemption because of their service to individuals of "small means" who would not otherwise qualify for credit. How things have changed!  Now the credit union lobby's number one priority is to use their tax-exemption to steal more commercial loans from tax-paying community banks.    Read more.

Help us spread the word! Click on the box to the right to easily nominate those in your network who are friends of traditional banking. YOU MAY WIN A FREE iPAD!

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