14 JULY / AUGUST 2018 of the new law and help promote economic vitality in their communities. ICBA has already sent letters to the regulators and the Consumer Financial Protection Bureau advocating for its expeditious implementation. “We will also continue to urge Congress to end the credit union industry’s unwarranted federal tax subsidy and oppose expanded powers for the industry, as long as it remains exempt from taxation and the Community Reinvestment Act. And we’ll continue raising concerns with the Office of the Comptroller of the Currency’s proposed special-purpose national bank charter for fintech companies, and ensuring that the OCC does not proceed without explicit statutory authority from Congress. “A strong farm bill is also needed. We’ll continue to call on Congress to pass a farm bill that provides stability to the volatile farm sector and to prevent the Farm Credit System from abusing its tax-advantaged status. “Clearly the list is long, and there is plenty if they haven’t already. It’s the first community bank resource that takes a deep dive into the legal and compliance elements associated with fintech partnerships. “I also believe that the core processor relationship is a critical component of financial technology and the future of our industry. ICBA recently released a Core Processor Resource Guide and Best Practices for working with cores and managing the partnership. Again, I encourage all community bankers to take advantage of these ICBA resources. “In terms of advocacy, there is still more work to be done. We need to get the rules written as quickly as possible for S. 2155, so community bankers can leverage the benefits more that needs to be accomplished, but with the help of our members and the ICBA staff, we will achieve more community bank victories in the coming years.” How can bankers engage effectively in grassroots advocacy? “Three words – ‘tell your story.’ One of the reasons why ICBA and community bankers were able to get generational community bank regulatory relief and tax reform through Congress was by making our voices heard through our individual stories. “Each community bank is unique, and your narrative demonstrates that. ICBA makes it easy by providing community banks with resources to advocate, promote their banks, and stay in the know. Our Be Heard Grassroots Action Center makes it easy to send a letter to a member of Congress with the click of a button, and our Marketing and Communications Toolkit makes it easy for community banks to promote their brand throughout the year. “By standing up and making our voices heard through examples and storytelling, we will make great change happen for our industry. Keep up the great work, community bankers!” What are upcoming opportunities in banking? “I’ll go back to innovation and education. Opportunities abound, and it’s up to community bankers to take advantage of opportunities that are out there. We hold the keys to prosperity in our hands; we just need to turn on the ignition. “Succession planning and grooming our industry’s future leaders is a big part of this. That’s why I’m so excited to be part of ICBA’s LEAD FWD event powered by Community Banker University. It will be held Sept. 17-18 in Louisville, Kentucky. “It’s a privilege to be a community banker – that’s why I see such a great opportunity to promote this profession and get more people excited about careers in community banking. And we’ll do that by showing the impact community bankers make in people’s lives, and how they are an integral part of the community. “That’s another reason why I think ICBA’s Rebeca Romero Rainey mingles with attendees at the 2016 Indiana Bankers Association Annual Convention. CERTIFIED PUBLIC ACCOUNTANTS New Albany 812.945.2311 | monroeshine.com | Louisville 502.423.0311 VISION FOR TOMORROW EST 1925 KNOWLEDGE FOR TODAY AUDIT & ASSURANCE BSA & ACH COMPLIANCE CONSULTING SERVICES IT RISK MANAGEMENT LOAN REVIEW MERGER & ACQUISITION OUTSOURCED INTERNAL AUDIT SEC & SOX COMPLIANCE Throughout the decades our commitment to the financial institutions industry and technical knowledge, combined with outstanding responsiveness and service, has helped our clients manage complex issues and regulatory requirements.
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