Banking & Politics Report

September 30, 2013

California, Kansas, Michigan, Nevada, Oklahoma, Texas, Utah, and Wyoming all have representation on the Fifty State Banker Board.

Eight states now represented on

Fifty State Banker Board

With over 2,500 members from all fifty states, Friends of Traditional Banking is broadening its leadership team and gearing up for the 2014 electoral cycle. In addition to its Executive Board and Advisory Council, Friends of Traditional Banking launched a Fifty State Banker Board in September.

"This new board is designed to gather more input, increase outreach, and support the membership and operational goals of Friends of Traditional Banking," said FOTB Chairman Matt Packard. "And we are pleased to already have

eight solid leaders who have stepped up to get us started." They are:

California- James Beckwith, CEO of Five Star Bank

Kansas- Frank Carson, CEO of Carson Bank

Michigan- Eric Eishen, CEO of Sturgis Bank & Trust

Nevada- Terry Shirey, Exec. VP & CFO of Nevada State Bank

Oklahoma- Brad Swickey, CEO of Valliance Bank

Texas- Ty Abston, CEO of Guaranty Bond Bank

Utah- Roger Shumway, Exec. VP of Bank of Utah

Wyoming- Jeff Wallace, CEO of Wyoming Bank & Trust

If you are interested in representing YOUR state on the Fifty State Banker Board, please contact Mike Winder, mike@friendsoftraditionalbanking.com 801.633.1300.

Click here to hear what Eric Eishen and other banking leaders are saying about how to change Congress (3min YouTube video)

Top need of traditional banks: Regulatory relief

A recent survey of banks conducted by the national Coalition of Bankers Associations

reveals that the #1 need of traditional banks across America is regulatory relief. This simply confirms that Wall Street regulation applied to traditional, Main Street banks is devastating our communities and our local economies.

The #2 concern identified in the survey is the sheer volume and generally shortsighted nature of the new mortgage and real estate lending regulations being issued by the CFPB. Traditional bankers identified the unfair, tax-subsidized competition from the growing number of mega-credit unions as the next highest concern, followed by the lack of checks and balances relating to the governance of the CFPB.

These will be the key issues Friends of Traditional Banking will be focused on as we evaluate candidates for the 2014 election cycle.

Texas Congressman: "Regulation led U.S. into financial crisis"

Rep. Jeb Hensarling (R-TX), chairman of the House Financial Services Committee, shared his thoughts on what really caused the financial crisis on the anniversary of the Lehman Brothers collapse. Titled Financial Regulation--Not Lack Thereof--Led U.S. Into Financial Crisis , Hensarling shares his viewpoint in the September 24 edition of American Banker.

He points out that not only did Congressional over-regulation cause the crisis, but that the reaction by Congress was wrong-headed. "Dodd-Frank," he laments, includes "provisions that make bailouts permanent, enshrine 'too big to fail' into law and give Washington bureaucrats more power, more authority and more control over personal financial decisions that Americans should be making for themselves."

Hensarling argues that these bad laws must be reformed, and makes a case for the Protecting American Taxpayers and Homeowners Act, which just passed the House Financial Services Committee. "The PATH Act is our best chance to create a housing finance system that is sustainable for homeowners, taxpayers, and our economy," he says.

Click here to read the ICBA's advocacy for the PATH Act

Click here to read the ABA's letter regarding the PATH Act

We need your help!

Friends of Traditional Banking has modest expenses as we grow our nationwide network. CLICK HERE to see how to make an easy online donation or where to mail a check.

Paid for by Friends of Traditional Banking. Not authorized by any candidate or candidate's committee. www.FriendsOfTraditionalBanking.com