Hope for regulatory relief? 
Friends of traditional banking around the country were pleased to see the Financial Choice Act sponsored by Jeb Hensarling (R-TX) pass out of the House of Representatives last month, and now eagerly await the Senate's response. 
Clearly, the Senate won't pass the act as is, but they are working on their own version of rolling back much of Dodd-Frank and the Consumer Protection Act.
"We are literally actively engaged right now in moving forward with developing this legislation," said Senate Banking Committee Chair Mike Crapo (R-ID). "We're engaged in an effort to identify statutorily where we can make things better," Crapo said. "We need to get the right balance in our system so we can have the strongest economic engine that we possibly can."
Our friends at the American Bankers Association have provided an easy link to connect to your Senators and to let your voice be heard on this important issue. See: http://action.aba.com/Kq55DAz?utm_campaign=ActAlert-E2-CHOICE-2015Petition-20170712&utm_medium=email&utm_source=Eloqua 
Senators we supported are strong on financial reform

Last fall, Friends of Traditional Banking members around the country donated hundreds of thousands to help reelect Sens. Pat Toomey (PA) and Rob Portman (OH). Both are providing strong voices for financial reform.

"There is bi-partisan interest in regulatory reforms," Portman said recently on CNBC's Squawk Box. "If you talk to some of our community banks," he said, "they are being hit hard by these regulations."
"For too long now we've been putting up with a Dodd-Frank bill that is costing us a lot of economic growth and opportunity," Toomey said on the Senate floor. "I am hoping our Democratic colleagues will work with us so that we can begin to make the constructive changes that we need. But if not, I think we should use all tools available to get this job done."
FFIEC Releases Update to 
Cybersecurity Assessment Tool

The Federal Financial Institutions Examination Council (FFIEC) just released an update to the Cybersecurity Assessment Tool. The FFIEC members developed the Assessment Tool to help financial institution management determine the institution's risk profile, inherent risks and cybersecurity preparedness.

What does YOUR bank need to do to stay current? See what our friends at BankOnIT have to say:Click here to read the full article

This message provided by a Corporate Friend of FOTB. If your organization is interested in becoming a Corporate Friend, email mike@friendsoftraditionalbanking.com
Help Friends of Traditional Banking continue to grow! We're already gearing up for the 2018 races that will impact banking. 

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 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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