29 HќќѠіђџȱ юћјђџ ѢљѦ 2014 FEATURE One thing I often hear when I have the opportunity to speak with you and your colleagues at the annual conventions of Indiana Bankers Association and other state bankers associations is how new regulatory requirements are making it harder to lend and to serve your communities. We know your regulatory burden is excessive — the Dodd-Frank Act has delivered 7,000 pages of new rules and guidance so far, and there’s more to come. The cumulative impact across the banking industry and across our economy is staggering. Banks’ compliance obligations also create unwieldy juxtapositions. When it comes to mortgage lending and servicing rules, for example, some banks ȱęȱ¢ȱȱȱ ȱ serving customers and protecting themselves legally. The American Bankers Association believes the solution to this seemingly intractable problem lies in what we call “tailored regulation.” By that we mean government policies that recognize the diversity of the banking industry and the communities you serve. Rules that correspond to a bank’s charter, business model, geog- ¢ȱȱȱęȱȱȱȱ the negative economic consequences ȱǰȱĜȱȱ- tion. While we have seen some successes with this approach — such as with improvements made to the Basel III and Volcker Rule regulations — we have a ways to go in undoing the damage done by Dodd-Frank. A special ABA/state bankers associations task force, however, has crafted ȱěȱ¢ȱȱ ȱ¢ȱȱ relief. Assembled earlier this year, the ABA/Alliance Regulatory Relief Task ȱ¡ȱ£ȱȱęȱ ¢ȱȱȱęȱȱ few that it believed could be addressed in a meaningful way through legislation this year. The focus on just a few was deliberate. It’s hard enough to get must-pass legislation, like spending authorization bills, through Congress. An omnibus relief bill for banks would have trouble get- ȱȱȱ ¢ǰȱȱȱĴȱ ěǯ But targeted bills whose clear ę¢ȱȱȱȱȱ and should stand a decent chance for enactment. Indeed, two bills that make the changes advocated by the task force cleared the House Finan- ȱ ȱ Ĵȱȱ ¢ǯȱ ȱ we are urging bankers to generate support for them in the full House. The bills are: % H.R. 2673, the Portfolio Lending and Mortgage Access Act, which would deem loans held in portfo- ȱȱ ęȱ ǯ % H.R. 4521, the Community Institution Mortgage Relief Act, which would exempt lenders with less than $10 billion in assets from the Dodd-Frank Act’s escrow requirements and servicers handling fewer than 20,000 loans from the servicing rule. We also are throwing our weight behind a third bill, H.R. 4466, which embodies the spirit of reg relief by requiring regulators to review and ȱĚȱȱ- ȱę£ȱ ȱǯ ȱ ĴȱȬȱȱȱ important bills is a critical step to ȱȱȱȱȱ ȱĚǯȱ That’s why we’ve been asking bank- ȱȱ¢ȱȱȱĴǰȱȱȱ meet with House members to share the real-world impact of these bills — how they would help your bank and the customers in your communities. A strong vote by the House can inĚȱ ȱȱ ȱȱȱ the legislation. And action on these ȱ ȱȱ ȱȱǰȱĚȬ shot relief measures. Help us help your bank by responding to any grassroots action alerts you receive. Encourage your employees, directors and peers to do ȱǯȱǻ Ȃȱęȱȱȱ- ¢ȱȱĴȱȱȱȱȱ www.aba.com/grassroots.) ABA and state bankers associations have been strong advocates, ȱȱęȱěȱȱȱȱ bills this far. Your engagement can ȱȱȱȱȱęȱǯȱ яќѢѡȱѡѕђȱ Ѣѡѕќџ ȱ was named president and chief ¡ȱĜȱȱȱ ȱ ȱ in 2011. His appointment followed seven years of service as president and CEO of the American Council of Life Insurers and after serving two terms as governor of Oklahoma. Keating’s 30-year career in law enforcement and public service included stints ȱȱ ȱǰȱ ǯ ǯȱĴ¢ȱȱȱǰȱ and Oklahoma House and Senate member. Author of three award-winning children’s biographies, he earned an undergraduate degree from Georgetown University, a law degree from the University of ȱȱȱȱȱȱęȱ¢ȱǯȱ ȱȱȱȱ ȱDZȱĤȓǯǯ ȱ ĚȬ ȱ ȱȱ Reg Relief
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