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Warren is wrong: Dodd-Frank is 
crushing traditional banking


In two Senate Banking Committee hearings this month, Sen. Elizabeth Warren (D-MA) declared that community banks are thriving under the rules of Dodd-Frank and "doing great" under the mountain of new rules and regulation it has produced. 


"Her comments are insensitive and offensive to America's traditional banks, who are still reeling from the monstrosity of Dodd-Frank," said John Boyer, CEO of KANZA Bank in Kingman, Kansas and Chairman of Friends of Traditional Banking (FOTB). 

The fact is, according to a new study from Harvard (Warren's former employer) Dodd-Frank is crushing community banks. "Dodd-Frank's regulatory burdens are driving consolidation, and could result in lending markets less able to serve core economic demands," the study concludes. Since 2010 when Dodd-Frank passed, the rate of community banks losing market share to big banks has doubled from the four years prior. 


Every business day in the United States, another community bank closes its doors. We are now down to 6,589 banks in this country, the same number as we had in 1891.

Yet, Warren is gleeful about the improving profitability among surviving community banks. "She misses the point entirely," said Boyer, pointing out that if the economy is growing, bank profits will always grow, especially if a record number of community banks are being assimilated. 


"Friends of Traditional Banking will continue to oppose members of Congress who are harming this important industry, regardless of party affiliation and in primary elections if needs be," Boyer declared, "and we will always champion common sense alternatives to those who would destroy us."

Sen. Gardner thanks FOTB

Colorado's newest U.S. Senator, Cory Gardner, took time recently to visit with Friends of Traditional Banking leadership at a Washington, D.C. luncheon.

"Cory highlighted the value of last fall's major FOTB support, and repeatedly thanked those present for FOTB's great support," said Don Childears, president and CEO of the Colorado Bankers Association and member of the FOTB Advisory Council. "Cory was a friend before FOTB's involvement; now we have a close friend," he said.

In addition to members of Friends of Traditional Banking's executive committee, advisory council and Fifty State Banker Board, the event was attended by Cam Fine, president and CEO of Independent Community Bankers of America (ICBA) and Frank Keating, president and CEO of the American Bankers Association (ABA). FOTB works hard to involve both of these national organizations in support of its efforts. The lunch was provided by the generosity of Federal Home Loan Bank of Topeka.


Ty Abston elevated to Executive Committee


Last month we introduced you to our new FOTB chairman, John Boyer. Today we introduce you to Ty Abston, who was recently elevated to the FOTB Executive Committee by a unanimous vote of the committee. Abston had been representing the state of Texas on the Fifty State Banker Board and is Chairman of the Board and CEO of Guaranty Bank & Trust. Guaranty is a $1.4 billion community bank, having grown over $500 million during the last five years,
with 22 bank locations throughout Texas and over 350 employees.

"We welcome Ty to the executive committee," said Boyer, "He has been a dynamic champion of Friends of Traditional Banking ever since he first learned of our group and we look forward to his increased involvement in this new role." The full list of FOTB leaders can be found on their website.

During his 27 year career, Abston has served in leadership roles in every functional area of banking. He has also served on the Board of Directors of the Federal Home Loan Bank of Dallas, Texas Security Bank in Dallas and Independent Bankers Association of Texas. He is past President of the Mount Pleasant Industrial Foundation, Mount Pleasant Habitat for Humanity and the Northeast Texas Water Coalition.

Abston earned his BBA in Finance from the University of North Texas, his MBA in
Finance from Texas A&M University-Texarkana and is a graduate of American Bankers
Association National Commercial Lending School. In 2013 he was honored as a
recipient of the Distinguished Alumni Award from Texas A&M University-Texarkana.

He is a native Texan and lives in Mount Pleasant. He and his wife Anne have two
children, a daughter Taylor and son Tanner.


Donate to help us grow in 2015!


Help Friends of Traditional Banking grow our nationwide network. The groundwork we lay this year is critical to more victories next year. CLICK HERE to see how to make an easy online donation or where to mail a check.


Friends of Traditional Banking is a non-partisan grassroots effort, organized by bankers. We have over 15,000 members in all fifty states, choose two Congressional races each cycle, and encourage our membership to donate directly to those campaigns.



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