ABA Banking Journal - August 2011 - (Page 6)

ABA ChAirmAn’s view | by steve wilson You kept us in the game and influenced the outcome I’m writing this column to say “Thank You” to the hundreds of thousands of bankers whose letters, e-mails, phone calls, and personal visits made a difference for all of us on the debit card interchange debate. You kept us in the game. Along with the leadership of our state bankers associations, whose tireless efforts helped us influence public policy, you demonstrated again the vital importance of engagement. And you showed us what a unified industry can do. No, we couldn’t secure a legislative fix to the Durbin Amendment. But we did persuade a majority of the Senate to support legislation introduced by Sens. Jon Tester (D-Mont.) and Bob Corker (R-Tenn.) to stop, study, and fix the misguided provision. And that broad, bipartisan support, coupled with your comment letters, dramatically affected the outcome of the Federal Reserve Board’s 378-page rule, which practically doubles the 12-cent cap initially proposed. That’s a terrific accomplishment that helps take some of the sting out of what remains very troubling: government imposed price controls. The fact remains that while the Fed’s final rule does less damage than its proposed rule, banks are still facing a 45% revenue loss on debit card interchange. We also remain very concerned about marketplace pressures that could drive interchange rates down for all banks, despite Congress’ intention to protect community banks. ABA will continue to stay very focused on protecting your interests as this rule plays out. We’re also determined to do what it takes to win future debates over banking policy. One way to do that is to emphasize the community behind community banking. Because to win the support of our hometown representatives in Washington, we need to win the support of our customers and stakeholders at home. And we can do that as we improve our industry’s image on Main Street. As I have said in this column and in speeches to bankers across the country, we have an opportunity to make a difference for our industry by restoring the honor we once enjoyed. We have to start with our employees, our directors, and our customers. ABA’s image toolbox, “Telling Your Bank’s Story,” is designed to make a difference for your bank. It’s available on ABA.com. It’s easy to use and highly effective. It’s one way of telling your community what you do for borrowers, for depositors and for economic growth at home. We’re often reminded that “all politics is local.” That’s where debates so often begin and end. It means that we can influence the outcome in our community. We just have to do it. n “To win the support of our hometown representatives in Washington, we need to win the support of our customers and stakeholders at home” —Stephen P. Wilson, Chairman and CEO, LCNB National Bank, Lebanon, Ohio 6  |  ABA BANKING JOURNAL  |  august 2011 http://www.ABA.com

Table of Contents for the Digital Edition of ABA Banking Journal - August 2011

ABA Banking Journal - August 2011
Content
Chairman’s View
Editor’s Column
The Economy
Bank Notes
ABA Community Banking
Pass the Aspirin
Tech Topics
Cover Report: Branch Banking
Branch Design Portfolio
Will Local Players Win Reverse Mortgage Turf?
Compliance Clinic
Compliance Inbox
ABA Resources
Legal Issues
First Person

ABA Banking Journal - August 2011

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