Traditional Banking Key to America's Vibrancy, says Congressman |
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"Thank you, Friends of Traditional Banking for your important role," said U.S. Representative Andy Barr (R-KY) to dozens of FOTB leaders in an exclusive call Monday. "Traditional banks are key to the vibrancy of our country," he said.
Barr, who is a powerful member of the House Financial Services Committee and chairs the Subcommittee on Financial Institutions and Monetary Policy, told the group that deposit insurance reform could be tough and requires bipartisan support. "Efforts for regulatory tailoring to protect the diversity of our banking sector are needed," he said.
Regarding mergers and acquisitions, Barr noted that "small and midsize banks should have the ability to protract or combine without excessive regulatory delays." He denounced the CFPB’s Small Business Lending Rule, calling 1071 a "very problematic rule that will cause small banks harm due to excessive reporting requirements."
Some concerns were shared about Barr's recently reintroduced Fair Access to Banking Act, but the Congressman explained that a second version of the bill is coming out to carve out any institution below $100 billion in assets. "Banks should be free to be banks and not be forced to do business based on arbitrary woke criteria," he said.
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Jackson Hataway Joins Advisory Council
Jackson Hataway, new President and CEO of the Missouri Bankers Association (MBA), has been appointed to the FOTB Advisory Council. Jackson joined the MBA in November 2019 as Senior Vice President of Member Services. Previously, Jackson spent ten years as a Senior Consultant for a west coast-based consulting firm facilitating strategic planning sessions and developing innovative strategic initiatives for financial institutions across the country. He worked with banks and banking associations across the country as a speaker and consultant.
He also worked regularly with senior executives at large technology corporations including Microsoft, GoDaddy and Adobe. These engagements helped Jackson become a key resource for many banks struggling to address the wave of digital transformation and fintech startups disrupting the financial services industry. Jackson is a renowned professional speaker with numerous national awards in his more than fifteen years of speaking experience and holds a Doctorate in Organizational Communication from the University of Alabama.
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Zimmerman to Represent Oregon on Banker Board
Gordon Zimmerman, president and CEO of Citizens Bank in Corvallis, Oregon, has joined FOTB's Nationwide Banker Board representing Oregon. Zimmerman is the immediate past chair of the Oregon Bankers Association and has served on several ABA advisory committees. He has been involved in banking since 1998, serving as president and CEO of several community banks. |
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FDIC Chair Gruenberg Out of Touch |
Utah Bankers Association President (and FOTB Executive Committee Member) Howard Headlee had some prescient insights after last year's presentation by FDIC Chairman Marty Gruenberg at the American Bankers Association Annual Convention in Austin, Texas. As we get deeper into 2023, Howard's analysis rings truer than ever!
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SPONSOR'S CORNER
Information Technology for Banking Leaders
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A message from our sponsor BankOnITUSA:
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Want to provide content in our Sponsor's Corner? Reach out about being a partner! mike@friendsoftraditionalbanking.com |
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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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