30 Hoosier Banker May 2016 I think most bankers would agree that the policy environment today is not a heck of a lot better for our industry than it was in 2008. Politicians continue to take cheap shots at banks, even going so far as to force the industry to pay for the highway spending bill enacted last December. This is an untenable position. Banks are far too important to hometowns across America to unfairly remain a political punching bag. It’s not just that the continued sweeping, anti-bank rhetoric damages our reputation, which could deter customers from banking. That is a problem, to be sure ‒ and policymakers should see how counterproductive it is to send consumers away from the safety of regulated institutions. But the more damaging result is the policies ‒ particularly in the form of overly prescriptive regulations ‒ that follow the rhetoric. Policies that do not recognize how banks interact with their customers, or how bank lending propels the growth and prosperity of their communities, do far more harm than good. They deny credit to creditworthy borrowers, make homeownership prohibitive, and perversely promote consolidation among smaller banks that are sometimes the only financial services provider in town. This needs to change. That’s why the American Bankers Association spent the first few months of 2016 reviewing and revitalizing the advocacy tools and programs bankers use to amplify their voice in Washington. We found we do some things well, but also that there were other things we should be doing better, differently, new or on a grander scale. We’ll be implementing changes on our end, including using new social and digital advocacy tools to better communicate, mobilize and coordinate our efforts. But we need bankers to make a shift, as well. Specifically we are asking bankers to do three things that we think will help rebuild the banking industry’s political clout. We are calling this initiative “Power Up,” and I am asking for your participation. Three Steps to Power Up 1. Engage in grassroots leadership. You are already community leaders, which makes you important to elected officials. We need to go the next level and become an invaluable resource to them. Host lawmakers in your community and in your bank. Introduce them to other community VIPs, including your business customers. Help them with their campaigns by hosting a fundraiser or providing manpower. As you do so, your member of Congress will learn the valuable role your bank plays in the community, and how policy affects your customers ‒ their constituents. That is the best way to ensure they will consider your views when a banking issue comes up for a vote. If you have or are willing to build or deepen a relationship with your lawmaker, please let the ABA know by filling out our lawmaker relationship form on aba.com/ PowerUp. 2. Join BankPac ‒ or your state’s federal PAC. ABA BankPac and connected state political action committees form a critical tool for advancing a pro-banking agenda in Washington, but we can only talk to bankers about it ‒ and how they can support it ‒ if a senior executive at the bank provides prior approval. It is critical that we obtain this approval as soon as possible. The ABA is already contacting those banks that have provided approval, particularly those whose leaders serve on ABA councils, about hosting Help Us ‘Power Up’ About the Author Robert S. Nichols is president and chief executive officer of the American Bankers Association. He joined the ABA in 2015, following 10 years of service as president and CEO of the Financial Services Forum, a non-partisan financial and economic policy organization. Prior to joining the Forum, Nichols was assistant secretary of the Treasury for Public Affairs, a position requiring confirmation by the U.S. Senate, and he also oversaw the Office of Public Liaison. Nichols is a recipient of the Alexander Hamilton Award, the highest honor of the U.S. Department of the Treasury. Previously Nichols’ career highlights included service as communications director for the Electronic Industries Alliance; as a senior aide on Capitol Hill, where he was communications director to U.S. Sen. Slade Gorton and press secretary to the late Congresswoman Jennifer Dunn; and in the West Wing as an aide in the Office of the Chief of Staff in the George H.W. Bush administration. Nichols serves as a member of the board of trustees of the National Presbyterian School and as vice chair of the board of directors of Food Allergy Research & Education (FARE). He is a graduate of The George Washington University. The author can be reached at: nichols@aba.com. FEATURE
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