Friends of Traditional Banking logoBanking & Politics Report
July 29, 2013

Congress listening to banking recommendations


Last month Friends of Traditional Banking urged members of Congress to support HR 1750, HR 1553, S 727, and S 731

. These bills create a more realistic regulatory environment for banks, and pause to study further Basel III provisions before forcing them on banks.
These are measures both the American Bankers Association (ABA) and the Independent Community Bankers of America (ICBA) are united in support of. 





Many members of Congress are responding, and the number of cosponsors on these good bills has grown by 50! Meanwhile, bills that give more power to credit unions at the expense of traditional banks are losing momentum. For example, since our last newsletter only one senator (Ron Wyden, D-OR) has been added as a cosponsor of S 968.


This is working! Please help us spread the word about Friends of Traditional Banking!

Sen. Elizabeth Warren (D-MA) responding to Friends of Traditional Banking


We celebrated our victory with Dean Heller in Nevada last fall, but I bet some bankers who joined Friends of Traditional Banking and supported Scott Brown in Massachusetts in 2012 thought that Elizabeth Warren's victory was a loss for Traditional Banking. NOT SO FAST! She heard us and others demanding more rational treatment of banks! This PROVES that a powerful concept like Friends of Traditional Banking can actually CHANGE the dynamic for banking in Washington, D.C.


This month American Banker ran the story "Elizabeth Warren, Champion of Small Banks" pointing out that she "has already raised concerns about the need for a two-tiered regulatory system and pressed regulators to pull back on applying Basel III standards to smaller banks."


Warren has joined banking allies as a cosponsor of S 731, the Basel II Case Act, and has so far refused to get on board with S 968, a bill by Sen. Mark Udall (D-CO) that would greatly enhance credit union power at the expense of traditional banks. Hopefully as Friends of Traditional Banking continues to grow, members of Congress like Warren will continue to be friendlier in how they treat banks.

"This is what we need to influence Congress" says Texas Bankers Association CEO  

J. Eric Sandberg Jr., President and CEO of the Texas Bankers Association pointed out that Political Action Committees alone aren't enough to change how Congress treats bankers. "Traditional PACs are just not enough," he said. 


Sandberg said that traditional PACs equate to small contributions into many political races. The Friends of Traditional Banking model is a much better one because it is many political contributions targeted into just a couple of key races, resulting in big dollars and big influence. "PACs are effective at opening doors," Sandberg said. "But they are not enough in terms of influencing a race." Sandberg has joined Friends of Traditional Banking's advisory board because he sees the effectiveness in targeting key races.


Click here to see what Eric Sandberg and other banking leaders are saying about this powerful way to change how Congress treats bankers (three minute YouTube video).

We need your leadership!


Friends of Traditional Banking has grown to include over 2,000 members in all 50 states. We are currently looking for a bank executive in each state who is willing to serve as state chairman and participate in our Fifty State Banking Board. These leaders will participate in an exclusive fifteen minute update board call each month, help grow the organization in their respective state as they are able, and provide input to America's fastest growing SuperPAC! Please let us know if you are interested in being a member or if you have any questions.


Contact Mike Winder: or 801.633.1300.



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