Independent Banker - July 2019 - 42

PORTFOLIO
achievements have had tangible
results, such as the reemergence of
de novo bank charters, there are many
more opportunities to push the needle
through grassroots advocacy.
Constituent meetings and communications
with members of Congress
are the most important factors influencing
lawmakers' policy positions,
noted Bradford Fitch, president and
CEO of the Congressional Management
Foundation, a nonpartisan,
nonprofit organization that aims to
build relationships and improve how
Congress functions. ICBA has partnered
with the foundation to provide
training opportunities and research
for community bankers.
Fitch said elected officials want to
hear from constituents about how
public policies affect their districts and
about the causes they champion.
" Lobbyists can know the issue backward
and forward-that's what you
pay them for, " he said. " But they can't
tell your story. Only you can do that. "
Direct from the regulator
Community bankers also heard from
FDIC chairman Jelena McWilliams,
who said the banking agencies are
rethinking their regulatory approach
to make it more agile and allow community
banks to innovate. In fact, one
of the biggest surprises of her first year
leading the agency has been its willingness
to evolve, she said.
McWilliams said regulations often
stifle innovations that can bring more
unbanked consumers into the banking
fold. Among its efforts, the agency
launched FDIC Tech Lab, which is
      ǫ
working to reduce regulatory burdens
on third-party due diligence to streamline
tech partnerships, she said.
McWilliams also cited regulatory
efforts to modernize the Community
Reinvestment Act, increase transparency
in Bank Secrecy Act reporting
and mitigate the impact of the Current
Expected Credit Loss accounting standards.
She also shared that the FDIC
is reviewing feedback on the 9% Community
Bank Leverage Ratio, which
ICBA and community bankers want
lowered to 8%.
Loan Participations Structured for the Community Bank Market
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On the question of industrial loan
companies, McWilliams said they are
" the law of the land " and that community
bankers should take up the issue
with Congress, which ICBA is lobbying
to permanently close the ILC loophole.
Talking capital in the Capitol
ICBA-supported legislation to enhance
community bank access to capital was
introduced in the Senate to help private
and publicly traded banks raise
much-needed capital during the summit.
The Community Bank Access to
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Independent Banker - July 2019

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