Each of these lawsuits was brought as a last-resort response to regulatory proposals that go far beyond the statutory authority granted to bank regulators by Congress. These suits are also in direct response to many of those same presidential appointees failing to acknowledge concerns expressed about how these new burdensome rules and restrictions will negatively impact our banks and our customers. While I’m hopeful our industry prevails in the courtroom, I also know it’s essential for every banker to be highly engaged and involved in “grassroots” advocacy for our industry. The future of our industry, especially the community bank model, is under attack. It’s up to us to push back in the courtroom or at the ballot box if regulators and policymakers fail to listen. As stated above, I didn’t draft this article to endorse a presidential candidate, but I want all of us to be keenly aware that presidential elections have consequences. Regardless of your political affiliation or conviction, the POTUS has the important task of appointing the heads (or interim heads) of the Federal banking regulatory agencies. These bank regulatory leaders are not merely figureheads — they have significant influence over policy, issues, direction and even bias regarding significant issues that have lasting effects on the success and sustainability of our banks. Regardless of who occupies the White House come January 2025, I hope the appointed regulatory leaders that govern our industry choose a more measured approach that recognizes the positive role banks play in communities, large and small, urban and rural, across America. Failing to do so will lead to harmful consequences for the communities and customers we serve. I want to thank each of you for your advocacy and challenge you, your board and staff to be even more engaged as we enter another contentious and wild election season. Mark Schifferdecker GNBank President & CEO Chairman of Kansas Bankers Association Board of Directors P.S. If you decide to take that long extended vacation until after Nov. 5, please give me a call. I might just join you. 7
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