11 Hoosier Banker July 2015 Continued on page 12. “Community banks, throughout the most difficult times of our economy, were the heart and soul of what was working and what was right, in that they were able to continue to make loans, and they didn’t cause any of the difficulties that we saw. I want to make sure that our community banks are not burdened with unnecessary regulations as a result of the misdeeds of others. “It’s an amazing privilege to serve our state. We have such wonderful people.” How do the Senate and House banking committees differ? “The Senate committee is smaller, with a little over 20 members, as opposed to 50-plus members in the House committee. It’s more of a familial, small-group feel. We are able to sit with each other for extensive periods of time to go over issues. “The work I’m doing on the Senate Banking Committee is a continuation of the work I had been doing in the House. Topics we are addressing include regulatory relief, the ExportImport Bank and, of particular interest for me here in Indiana, the question of how to continue to grow the opportunity for people to access affordable, reasonable loans for RVs, manufactured housing and other products. “I loved serving in the House, and now the Senate. I am extraordinarily fortunate to have had the opportunity to serve in both.” What would you like for your fellow senators, who may be less familiar with financial services, to understand about banking? “I would like for them to understand that not every organization is the same. Some of the organizations that caused the difficulties back in 2008 and 2009 couldn’t be more different from the community banks that serve Indiana and the rest of the country. Our banks are based on solid loans, sound practices and growing the economies of our communities, our state and our country. “When we talk about enacting regulatory relief, I want everybody to know that this is not a challenge to safety and stability. It actually helps create greater safety and stability by enabling our community banks to do their jobs more efficiently, more effectively ‒ and to be able to stay independent, if they choose ‒ because they will have less of a burden to deal with. “In Indiana and across the country, we saw what happens when organizations stray from the common-sense practices of safety and stability. We saw it with rating agencies that created AAA ratings for groups of collateralized debt obligations that clearly were not AAA. We saw it when financial institutions ‒ which were not community banks, not mid-sized banks, not regional banks ‒ put together packages of financial instruments that were incredibly unsafe. “It’s important to me that people know the story of our community banks and of our banks in Indiana.” Conversely, what would you like for Indiana bankers to understand about what you and your colleagues do? “The purpose of the Dodd-Frank Act was to continue safety and stability for our economy. During the most difficult times, because of a lack of capital, we saw manufacturing companies shut down, and we saw unemployment soar over 20 percent in some of our counties. I keep a focused eye on making sure we maintain the safety and stability needed. “The corollary is that DoddFrank shouldn’t add any burdens that do not contribute to safety or stability in any way. So many of the requirements that our banks here in Indiana are dealing with Visits from constituents are welcomed by Sen. Joe Donnelly, shown meeting with Indiana bankers in DC. Pictured are (left to right): Lucas White,The Fountain Trust Company, Covington;Tim Daly, Great Lakes Regional Office of the Independent Community Bankers of America; Joseph G. Pierce, Farmers State Bank, LaGrange; Sen. Donnelly; Mark A. Schroeder, German American, Jasper; Michael H. Head, First Federal Savings Bank, Evansville; and David M. Geis, Jackson County Bank, Seymour. Last summer Sen. Joe Donnelly hosted a field hearing in Indianapolis for the U.S. Senate Special Committee on Aging.The objective was to help Hoosier seniors recognize the potential warning signs of financial predators.
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