Pub. 3 2013-2014 Issue 6

8 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S FEATURE ARTICLE “To that end, the Coalition of State Bankers Associations has created a tool that will hopefully lead to some balance and accountability. We call it the “Regulatory Feedback Initiative.” Time for Regulatory Transparency C hecks and balances are important. With- out them power becomes concentrated and abused. Banks are perhaps the most heavily regulated businesses in America. Bank regu- lators have enormous power. Perhaps that is because thereare few, if any, checksandbalancesontheirpower. As an advocate for the banking industry I have been troubled by what I see in our regu- latory system. Regulators hold all the cards, from the smallest operational details to the very survival of a bank. Banks are sworn to secrecy and, as such, each bank is on an island, relatively powerless to fight back. Most banks have determined that fighting with their regulator is futile and foolish. But there are times when a fight, and the balance it would provide, is needed, not just for the banks, but for the communities they serve and the economy in general. To that end, the Coalition of State Bankers Associations has created a tool that will hope- fully lead to some balance and accountability. We call it the “Regulatory Feedback Initiative.” DONNY PALMER TBAMEMBER RELATIONS OFFICER