ABA Banking Journal - May/June 2015 - (Page 8)
CHAIRMAN'S VIEW
Taking Charge Means
Taking Part
BY ABA CHAIRMAN JOHN A. IKARD, PRESIDENT AND CEO,
FIRST BANK HOLDING COMPANY
IMPLICIT IN THIS magazine's cover story about ABA's beginning is an
important lesson: that bankers must take charge of our own destiny. It's worth
remembering this as we absorb news of legislative and regulatory proposals,
technological innovations and other opportunities and threats affecting banking.
Some may think that today is
different, citing the likes of Apple
Pay, Square and Google Wallet,
or the avalanche of regulation
descending upon us from the DoddFrank Act. These are formidable
challenges, to be sure. But banking's
pioneers faced their own unique
challenges and met them. That
explains why one in three banks
today has been in business for more
than a century-and two in three for
more than 50 years.
To survive and thrive in our current
period of transformation, we must
follow their example-and set our
own. That means, among other
things, supporting one another by
engaging in state associations, ABA
and industry affairs. ABA began
as an association by bankers, for
bankers, and your active involvement
is essential to maintaining that
identity.
We also can support each other by
lending our voices, our expertise
and our grassroots strength to
efforts to create a better policy
environment in Washington. Public
policy is, after all, the greatest force
influencing banking today.
8
ABA BANKING JOURNAL | MAY/JUNE 2015
I can tell you I've lost more money
with the stroke of a pen in Washington
than in any credit crisis. A single rule
can determine whether our banks
stay in a business or get out. Whether
we make money on a service, offer it
at a loss or don't offer it all. And while
we have made progress recently in
persuading policymakers to better
tailor their rules and supervision-to
recognize the industry's diversity-we
have much more work to do.
That's why programs that help
bankers connect with lawmakers
and rule-writers are so important
and deserving of your attention. ABA
alone offers several: the Government
Relations Summit, which more than
1,000 bankers attended this year; the
ABA-State Association Washington
Visit program, which brings more
than 1,400 bankers to Washington
every year; Amplify, a website full of
grassroots resources; and "Take Your
Lawmaker to Work Week," which ABA
is launching this summer.
There are also several ways to engage
on the political side. Contributions
to BankPac help elect men and
women who support the banking
industry, while donations to ABA's
501(c)(4), the Financial Education
and Advocacy Initiative, help
provide resources to educate
policymakers and the public and
conduct independent expenditures
in congressional elections. These
are all important and necessary
tools. We need to do everything we
can to align politics with policy so
our customers, communities and
institutions can thrive.
At ABA's National Conference for
Community Bankers earlier this year,
a banker perused a display we had
set up illustrating ABA's history. She
was impressed and pleased-and
perhaps a little surprised-to learn
that ABA's founding was inspired by
the women's suffrage movement.
It's ironic that some bankers
today feel like they are the ones
who are disenfranchised-as if
Washington has plugged its ears
to our concerns. But recently I
have sensed a shift-an improved
understanding of the role banks
play in hometowns across America
and a desire by policymakers to
support that role. I attribute this
shift to bankers stepping up and
telling their story. You have followed
in the example of ABA's founders
and helped take charge of banking's
future-a future that can be as
bright as we want it to be, if we all
play our parts.
Table of Contents for the Digital Edition of ABA Banking Journal - May/June 2015
CHAIRMAN’S VIEW
UPFRONT
ECONOMIC OUTLOOK
LEGAL BRIEFS
PICTURE THIS
CELEBRATING A TRADITION OF INNOVATION
SOUND RISK CULTURE
AN INTERVIEW WITH FDIC’s MARTIN GRUENBERG
NEW RESPA/TILA MORTGAGE DISCLOSURES
BANK DOMAIN ROLLOUT
INVESTOR PERSPECTIVE
MARKETING/RETAIL
PAYMENTS
ADVOCACY
ABA COMPLIANCE CENTER INBOX
CYBERSECURITY
MORTGAGES
OPERATIONS
BOARD MATTERS
FROM THE STATES
BANKER RECOMMENDED READING
INNOVATIONS IN SOCIAL RESPONSIBILITY
INDEX OF ADVERTISERS
ABA Banking Journal - May/June 2015
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