ABA EVP — Congressional Relations Kirsten Sutton Kirsten Sutton (left), EVP of Congressional Relations at the American Bankers Association, participated in a briefing session with the group before our regulatory and legislative visits. During the session, Sutton discussed the industry’s priorities and provided guidance on advocating directly and effectively telling their story to policymakers in Washington, D.C. ABA Tax Policy ABA tax policy experts gave the KBA an update on tax cuts and increases being discussed on the hill. With 2024 being an election year, taxes are a hot topic, and there will be a new tax plan for the next president. We must continue to remind our legislators that a tax increase on banks is a tax increase on our customers. ABA Credit Unions With tax policy up for discussion, the ABA and KBA are asking for the Financial Services Committee to hold a hearing to review the credit union federal tax exemption, and the fact that many large credit unions have exceeded their initial mission of serving disadvantaged communities. ABA Credit Card Policy Council ABA updated the group on debit and credit card issues, including ongoing opposition of the Credit Card Competition Act and new Reg II proposed caps on interchange fees. FDIC Board Vice Chairman Travis Hill Travis Hill, Vice Chairman of the Federal Deposit Insurance Board of Directors met with the KBA at the FDIC headquarters to discuss various topics, including brokered deposits, Basel III and modernizing the FDIC deposit insurance fund. During the meeting, Vice Chairman Hill provided valuable insights into the composition of the board and the length of terms and shared details about his career path that led to the FDIC. 15
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