Pub. 9 2019-2020 Issue 1

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 July • August 2019 13 Federal Government Relations 1. Rule making started to implement S.2155, which was adopted by Congress in May 2018 on topics including QM safe harbor, rural appraisal relief, HMDA disclosure relief, stress tests, community bank leverage ratio, disclosure relief, TILA escrow and waiting period, reciprocal deposits, Volcker exemption, short form call reports, small bank holding companies, exam cycle, opening accounts online, HVCRE loan capital, cybersecurity, pred- atory lending, PACE retrofit loans, credit scoring models and SIFI threshold. 2. This week, CBA is enjoying an unprecedented feat of securing both the Comptroller and FDIC chair to speak at CBA Annual Summit – something not accomplished by other state bankers associations – with the Fed Vice Chairman scheduled to speak to a CBA gathering in Denver in the fall of 2019. 3. In November 2018 Democrats took control of the U.S. House making Rep. Maxine Waters chair of the House Financial Services Committee. CBA already knew our two new freshman House members, Joe Neguse and Jason Crow, but we also were the first to meet with them in January in Washington, D.C. 4. Years ago, CBA significantly helped to write Rep. Ed Perlmutter’s SAFE Act to resolve the marijuana banking issues with safe harbors for banks. This spring it passed the House Financial Services Committee 45-15, starting to address the issue. 5. Friends of traditional banking started preparing for 2020 campaign activity where it again will choose to support two candidates running for the U.S. Congress. FOTB has won 5 of 6 races to date and helped elect Cory Gardner (CO) and Joanie Ernst (IA) to the U.S. Senate, coming from behind in the polls. General CBA 1. The CBA Board in April 2019 provided CBA clear-cut direction on state government relations following November’s challenging election and the very anti-business 2019 legislative session. 2. CBA pioneered the concept of regional cooperation among state bankers associations by focusing state associations on government relations (which requires local knowledge of issues and public officials) and using a shared service corporation to provide other bank services like newsletters, web sites, education conferences and webinars, and offerings associations need such as database management, accounting and personnel –CO,WY, MT are exploring this further. 3. CBA was a key player in the November 2018 election in successfully defeating Amendment 73 ( a $1.6B tax increase) and in crushing the May 2019 Denver Initiative 300 (“Right to Survive” – defeated 17%-83%). 4. Following the November 2018 election and con - cerned that the Mountain West Credit Union League (with Democrats holding all statewide office and both houses of the Legislature) would seek authority for public funds for credit unions, CBA met with the League to successfully advise against such an effort. 5. As much as we don’t want the role, CBA is the de facto expert on banking marijuana. CBA sponsored the first nationwide conference on the subject in August 2018 with 200 attendees from over half the states, and we plan a repeat this year. CBA also has helped many state bankers associations and their members to understand the issue and CBA hosted a popular webinar on hemp banking following adoption of the Farm Bill in December. Don’s Top 5 - Federal Government Relations and the Big Picture