ABA Banking Journal - September 2011 - (Page 52)

ABA Resources Q What are the challenges? An interview with Ken Clayton, Chief Counsel and SVP of Legislative Affairs ABABJ: You were deeply involved in the debit-card interchange fight. How happy are you with the outcome? Ken Clayton: I’m really pleased that the industry spoke with one voice and the impact that had. Reducing lost revenue at banks by up to $4.5 billion a year is an achievement the industry should be proud of. But there’s no sugar-coating this—the lost revenue from the Durbin Amendment is a horrible result for banks. What troubles me most is the impact this will have on banks’ ability to serve their communities. This is a big deal, and it comes at a really bad time. ABABJ: How has credit card reform, another issue you were very involved with, affected banks? KC: It forced the industry to take a close look at itself and the perceptions policymakers and customers had of some of our practices. At the end of the day, card reform ensures that customers get greater clarity on what’s involved in using credit cards and greater protection, as some of the more controversial practices disappear. In the end it will benefit all banks that offer consumer services. ABABJ: You and James Ballentine will get new responsibilities when ABA’s chief lobbyist, Floyd Stoner, retires at yearend. What are the biggest challenges? KC: James and I are looking forward to this opportunity to serve the industry. Floyd’s is a tough act to follow, but both James and I have had a lot of experience meeting with bankers, and we will apply bankers’ insights in ways that benefit the industry. One of our biggest challenges is helping policymakers appreciate the enormous role that banks of all sizes play in the local community and the economy as a whole. Bankers across the country, working with ABA and the state bankers associations, need to engage in the policy process and put a real face on the problems faced in serving the local communities. ABA will work aggressively to facilitate that. ABABJ: Are there key coalitions or partnerships that would 52  |  ABA BANKING JOURNAL  |  september 2011 make a difference for the industry in the future? KC: I’ve had the privilege of working with all segments of the industry during my 20+ years at ABA—as the liaison with the Community Bankers Council for many years, and with the mid-size and large banks on many issues—and have a good sense of the challenges they face and the resources they bring to the table. We need to recognize the strengths of these various segments, bring them together, speak with one voice and be more politically effective. Getting 54 votes in the Senate on interchange was a significant achievement and the direct result of a coordinated effort. It’s the only way to preserve banks’ long-term interests. It would also be helpful to find common interests with the local chambers of commerce, the retail community and local community groups. They have a shared investment in the future of local communities ABABJ: You often bike to work. Are there days when you bike in and just don’t feel like biking home? KC: It’s 11 miles each way—downhill coming in and uphill going back. As you might imagine, I think more fondly of the downhill part. But it’s really never a problem. There’s nothing like getting out on a bike, clearing your head, and recharging you batteries. You don’t want to miss that. Ken can be reached at kclayton@aba.com or ask for him at 1-800-BANKERS.

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

ABA Banking Journal - September 2011
Contents
Chairman’s View
Editor’s Column
The Economy
Bank Notes
ABA Community Banking
Pass the Aspirin
Tech Topics
Cover Story: Mobile money at stake
Insurance revival
The long and short of annuities
Compliance Inbox
ABA Resources
ABA Annual Convention
First Person

ABA Banking Journal - September 2011

https://www.nxtbook.com/naylor/BAKS/BAKS0515
https://www.nxtbook.com/naylor/BAKS/BAKS0415
https://www.nxtbook.com/naylor/BAKS/BAKS0315
https://www.nxtbook.com/naylor/BAKS2/BAKS1014
https://www.nxtbook.com/naylor/BAKS2/BAKS0914
https://www.nxtbook.com/naylor/BAKS2/BAKS0814
https://www.nxtbook.com/naylor/BAKS2/BAKS0714
https://www.nxtbook.com/naylor/BAKS2/BAKS0614
https://www.nxtbook.com/naylor/BAKS2/BAKS0514
https://www.nxtbook.com/naylor/BAKS2/BAKS0414
https://www.nxtbook.com/naylor/BAKS2/BAKS0314
https://www.nxtbook.com/naylor/BAKS2/BAKS0214
https://www.nxtbook.com/naylor/BAKS2/BAKS0114
https://www.nxtbook.com/naylor/BAKS2/BAKS1213
https://www.nxtbook.com/naylor/BAKS2/BAKS1113
https://www.nxtbook.com/naylor/BAKS2/BAKS1013
https://www.nxtbook.com/naylor/BAKS2/BAKS0913
https://www.nxtbook.com/naylor/BAKS2/BAKS0813
https://www.nxtbook.com/naylor/BAKS2/BAKS0713
https://www.nxtbook.com/naylor/BAKS2/BAKS0613
https://www.nxtbook.com/naylor/BAKS2/BAKS0513
https://www.nxtbook.com/naylor/BAKS2/BAKS0413
https://www.nxtbook.com/naylor/BAKS2/BAKS0313
https://www.nxtbook.com/naylor/BAKS2/BAKS0213
https://www.nxtbook.com/naylor/BAKS2/BAKS0113
https://www.nxtbook.com/naylor/BAKS2/BAKS1212
https://www.nxtbook.com/naylor/BAKS2/BAKS1112
https://www.nxtbook.com/naylor/BAKS2/BAKS1012
https://www.nxtbook.com/naylor/BAKS2/BAKS0912
https://www.nxtbook.com/naylor/BAKS2/BAKS0712
https://www.nxtbook.com/naylor/BAKS2/BAKS0612
https://www.nxtbook.com/naylor/BAKS2/BAKS0512
https://www.nxtbook.com/naylor/BAKS2/BAKS0412
https://www.nxtbook.com/naylor/BAKS2/BAKS0312
https://www.nxtbook.com/naylor/BAKS2/BAKS0212
https://www.nxtbook.com/naylor/BAKS2/BAKS0112
https://www.nxtbook.com/naylor/BAKS2/BAKS1211
https://www.nxtbook.com/naylor/BAKS2/BAKS1111
https://www.nxtbook.com/naylor/BAKS2/BAKS1011
https://www.nxtbook.com/naylor/BAKS2/BAKS0911
https://www.nxtbook.com/naylor/BAKS2/BAKS0811
https://www.nxtbook.com/naylor/BAKS2/BAKS0711
https://www.nxtbook.com/naylor/BAKS2/BAKS0611
https://www.nxtbook.com/naylor/BAKS2/BAKS0511
https://www.nxtbook.com/naylor/BAKS2/BAKS0411
https://www.nxtbook.com/naylor/BAKS2/BAKS0311
https://www.nxtbook.com/naylor/BAKS2/BAKS0211
https://www.nxtbook.com/naylor/BAKS2/BAKS0111
https://www.nxtbook.com/naylor/BAKS2/BAKS1210
https://www.nxtbook.com/naylor/BAKS2/BAKS1110
https://www.nxtbook.com/naylor/BAKS2/BAKS1010
https://www.nxtbook.com/naylor/BAKS2/BAKS0910
https://www.nxtbook.com/naylor/BAKS2/BAKS0810
https://www.nxtbookmedia.com