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Key Primary Races that
Bankers are Watching Closely
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With several major 2026 primary
contests still ahead in the coming weeks and months,
banking executives are increasingly focused on races
that could shape financial regulation, tax policy,
and the business climate heading into 2027.
The most immediate contest drawing
attention is the Texas Republican Senate runoff on
May 26 between incumbent Sen. John Cornyn and Texas
Attorney General Ken Paxton. Early voting began this
week, and many in financial services view the race
as a referendum on the future direction of the
Republican Party's economic agenda. Cornyn is widely
viewed as more aligned with traditional business
interests, while Paxton has built strong support
among populist conservatives skeptical of Wall
Street institutions and ESG-related banking
policies.
Bankers are also watching upcoming
summer primaries in states such as Colorado on June
30 and Kansas on August 4, where competitive
congressional and statewide races could influence
the makeup of key banking, tax-writing, and commerce
committees in Washington.
Meanwhile, North Carolina remains a
major focus ahead of the November general election,
where Republican Michael Whatley and Democrat Roy
Cooper are already framing debates around economic
growth, housing affordability, and business
regulation. Financial executives see the race as one
of the Senate contests most likely to determine
congressional control.
Industry leaders are paying close
attention because the lawmakers emerging from these
races may ultimately shape the future of CFPB
authority, capital requirements, cryptocurrency
regulation, merger oversight, and tax policy for
years to come. The races Friends
of Traditional Banking will jump in to
influence this fall will reward our friends and
punish those who fight against an economically
healthy banking environment. Are you ready to
rumble?
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Shayowiz Named to Represent New Jersey on Banker Board
Shmuel Shayowitz has been appointed
to represent New Jersey on FOTB's Nationwide
Banker Board. He serves as President and
Chief Lending Officer of a New Jersey-based national
mortgage banking firm, where he oversees lending
operations, capital markets strategy, and business
development. Shayowitz brings over two decades of
advanced industry experience and a uniquely holistic
approach to real estate, banking and financial
matters that extends well beyond any single
transaction.
Shayowitz's impressive credentials
began at a young age when he obtained his real
estate license at the age of 18. He has since
accumulated an extensive portfolio of licenses and
accreditations, including Certified Mortgage
Underwriter, former Certified Real Estate Appraiser,
Direct FHA Specialized Underwriter, and Accredited
Real Estate Investor. He has also served as an
advisory board member within the mortgage sector
including at ICE, where his influence helped shape
consumer direct initiatives.
An active contributor to the
regional business community, Shmuel has been
involved with numerous business endeavors including
active participation in the Bergen County and North
Jersey Chambers of Commerce, and has engaged
extensively with Realtor associations and
entrepreneurial organizations throughout the state.
His financial and market insights are widely sought
by national and regional media, with features and
commentary appearing in CNBC, Forbes, Fox Business,
USA Today, The Bergen Record, Realtor.com,
TheStreet.com, and numerous mortgage industry
publications.
As New Jersey's representative for
Friends of Traditional Banking, Shayowitz brings
practitioner depth, policy awareness, and a
longstanding commitment to protecting traditional
lenders and the communities they serve.
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Mississippi's Carlson Named Banker Board Rep
Michael P. Carlson has been
selected to be Mississippi's representative on
FOTB's Nationwide
Banker Board. Mike joined
Trustmark Bank in 2021 and today is
EVP and Chief Risk Officer. He has more than 30
years
of experience helping financial
institutions
manage risk, compliance and legal
issues while
working with financial services
providers
ranging from community banks to
multi-
national banking organizations.
Previously he
served as Executive Vice
President/Deputy
General Counsel for BBVA USA (now
part of PNC). Carlson manages the Trustmark teams
responsible for enterprise risk management,
compliance, fair & responsible banking, CRA and
BSA/AML.
Mike earned his BS degree in
organizational leadership from St. John's University
(cum laude) and his Juris Doctor (cum laude) from
Mitchell Hamline School of Law. He has taught
classes as an adjunct professor on banking
regulation and transactional law at the University
of Alabama School of Law, the University of St.
Thomas School of Law and Mitchell Hamline School of
Law. He is a member of the Minnesota State Bar
Association and Alabama State Bar Association.
Carlson has also been involved in
numerous community activities. He recently
served as Chair of the Board of
Alabama Appleseed Center for Law & Justice and
as a member of the Florida Bankers Association
Government Relations Council. He has also provided
leadership to several other nonprofit organizations
and trade associations, including recently as chair
of the American Bankers Association, Regulatory
Strategy Group.
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BANKER NEWS BITS:
- President Donald Trump will swear in Kevin Warsh, his hand-picked choice to lead the Federal Reserve,
during a ceremony Friday, a White House official
told
CNBC.
Once seated, Warsh, 56, will become the 11th
chair in the modern era as well as the
wealthiest person ever to hold the seat, based
on financial disclosures he filed ahead of
confirmation.
- After a bipartisan approval in the Senate
Banking Committee, the crypto market structure bill (Clarity Act) now advances to a final overhaul aimed
at Senate and House passage. CoinDesk reports
that the crypto industry's primary goal in
Washington has taken a major step forward, with
the passage of the Digital Asset Market Clarity
Act through a Senate committee process that's
been held up for four months. After a couple of
hours of partisan sniping, the Senate Banking
Committee managed a turnaround to get the crypto
Clarity Act to a 15-9 bipartisan approval by the
committee, which advances it to the next steps.
- The Trump administration sides with banks in Illinois swipe fee case, according to Politico. The
administration is moving to block an Illinois
law with potentially far-reaching implications
requiring credit card companies to waive part of
their swipe fees, the money they charge
merchants for processing transactions."The
administration is fairly clear that it wants one
national payments system, and not 50 states
regulating how things are done differently,"
said Ben Sperry, senior scholar at the
International Center for Law and Economics, a
think tank.
- Friends of Traditional Banking Gears Up for a 14th Year of Impact,
we read in The
American Banker. "We
are excited to once again identify the absolute
most critical races for our industry and then
encourage thousands of donations of all sizes to
tip the scales for victory," said Amada
Alvidrez, board chair and Regional Retail
Manager for Equity Bank in Guymon, Oklahoma in
the release. "We are thrilled to watch our ranks
of community bankers and allies keep growing,
and we are preparing for our biggest year of
impact yet," added board vice chair Greg Hayes,
President & CEO of Kish Bank in State
College, Pennsylvania.
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SPONSOR'S CORNER
AI That Protects and Performs for Community Bankers
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A message from our sponsor Navanta:
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The core takeaway of this update is
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security, or human connection.
See the full message from CEO Eric Jones with our platinum sponsor, Navanta HERE: https://navanta.com/resources/ai-that-protects-and-performs-for-community-bankers/
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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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