44 JANUARY / FEBRUARY 2018 FEATURE Making Things Happen Article author Robert S. Nichols President and CEO American Bankers Association nichols@aba.com @BankersPrez You’ve heard the saying that there are three kinds of people in the world: people who make things happen, people who watch things happen, and people who wonder what happened. In my experience, the women and men who lead America’s banks fall decidedly into the first camp. It could be because you lead the institutions that serve as the engine of America’s economy – and together, you make up one of the most important industries in our nation. It could also be because most of the bankers I meet and talk to in my travels are deeply engaged in industry affairs. They are at their state associations’ events or serving on its board, or serving on one of the American Bankers Association’s many councils, working groups or committees. They are tending not only to what their employees, customers and communities need, but also to what the industry, economy and country need to thrive. This extra service makes a big difference. When bankers engage in their association’s affairs or in advocacy, a host of good things happen. Some examples: It was a member of ABA’s “official family,” for instance, who suggested that ABA fly down to Houston and Naples following Hurricanes Harvey and Irma and capture on video, for all to see, how banks and bank employees were responding to the local disasters. The result of that suggestion is a video – which you can view at aba.com/HurricaneResponse – that showcases how bankers lead their communities in difficult times. We’ve been promoting this video widely and encouraging bankers to do the same, because it tells such an important and positive story about our industry. I’m grateful to Bob Jones of United Bank, Atmore, Ala., who serves on the ABA Foundation board and also chairs the Fund for Economic Growth, for suggesting this. Bankers serving on ABA’s Community Bankers Council, along with senior loan officers and others at member banks, made a big difference when they provided us essential feedback during the Consumer Financial Protection Bureau’s rulemaking on smalldollar loans. Their comments, which we relayed in letters and meetings with bureau officials, resulted in a critically important exemption for banks from the CFPB’s final rule requiring short-term, small-dollar loans to meet an ability-to-repay test. Banker involvement was also the key to scoring improvements in 2016 to the call report for smaller banks. We are seeking to replicate that success as the agencies undertake a review of their safety and soundness exams. That’s why ABA invited regulators to listen in on two banker conference calls we hosted on the topic – so that regulators could hear bankers’ perspectives early on in their review process. And of course, bankers’ engagement on the CFPB’s arbitration rulemaking not only helped shape ABA’s policy position on the issue, it ultimately helped persuade Congress to overturn the rule, securing a critical win for bank customers who would have lost access to a resolution option that was faster, more economical and more beneficial to consumers than class action litigation. The truth is, we rely on bankers to inform and guide everything we do, from our comment letters on regulatory proposals and advocacy communications, to conference content and online training. That is the only way associations can succeed. HB
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