Hoosier Banker 33 Dax Denton Chief Policy Officer Indiana Bankers Association DDenton@indiana.bank Ross Teare Vice President - Government Relations Indiana Bankers Association RTeare@indiana.bank This fall, the Indiana Bankers Association hosted over 70 participants in our nation’s capital for the Annual IBA Washington Trip. The fly-in is one of the most impactful components of IBA’s engagement in the national political process, providing bankers with prime opportunities to talk with and educate regulators and legislators who have a significant impact on the banking industry. The trip took place against a backdrop of critical national discussions. Congress was grappling with the possibility of a government shutdown unless a spending bill was passed. There were discussions about amending the Credit Card Competition Act in the Senate to include language that would negatively impact the banking industry. And the Senate Banking Committee was preparing for a vote on the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which would allow banks to accept deposits from state-sanctioned cannabis businesses. Bankers thanked Indiana’s U.S. Representatives who voted in support of the SAFER Banking Act, while encouraging Senators Mike Braun and Todd Young to support the act as it advanced through the Senate Banking Committee. They also rallied behind the Access to Credit for our Rural Economy (ACRE) Act while staunchly opposing the Credit Card Competition Act, often referred to as Durbin 2.0. IBA members effectively advocated for changes to the Sec. 1071 rule, highlighting its implementation challenges. They also raised poignant questions regarding the Consumer Financial Protection Bureau’s approach to overdraft fees and expressed concern about the proposed rules concerning climate risk management, the potential impacts of a central bank digital currency and the federal regulation of digital currencies like stablecoins. Experts from the American Bankers Association and Independent Community Bankers of America briefed Hoosier bankers on other policies and regulations being debated in Washington and the advocacy both organizations do every day on our behalf. Moving beyond Capitol Hill, we then had meetings with high-ranking officials from the Department of the Treasury, senior directors at the Federal Reserve, Director Jonathan McKernan of the Federal Deposit Insurance Corporation, deputy comptrollers from the Office of the Comptroller of the Currency and senior counsel for the Consumer Financial Protection Bureau. The trip wasn’t all work. We started with a dinner and private tour of President George Washington’s historic estate at Mt. Vernon, setting the stage for a series of remarkable experiences. Another dinner at the Capitol Hill Club was graced by esteemed guests, including Senator Braun, Congresswoman Erin Houchin and Congresswoman Victoria Spartz. The group was then treated to an exclusive private tour of the Capitol, guided by Congressman Jim Banks, including the unique opportunity to witness House debates from the House Gallery, making for an unforgettable experience. The overarching theme of this year’s IBA Annual Washington Trip was one of mounting challenges confronting the banking industry, both in policy and regulation. However, the strong spirit of our members shone through as they adeptly navigated the intricate terrain of banking issues and educated lawmakers and regulators about these complexities. The trip’s timing, with its heightened level of engagement with regulators and legislators, could not have been more opportune. It is incumbent upon those shaping policy and regulation to hear the voices of those who stand to be most affected by these proposed changes. We would like to thank all our members who attended this year’s fly-in. We recognize the sacrifice of being away from your banks and your families to participate in this signature event for the Indiana banking community. The banking industry is better served by your involvement. HB
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