Pub. 4 2014-2015 Issue 6

6 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S A Word From CBA... A group, myself included, traveled to Washington D.C. in March to participate in the American Bankers Association’s annual spring Government Relations Summit. There, we met with both Colorado U.S. Senators as well as Colorado's two rep- resentatives on the House Financial Services Committee. The meetings resulted in good discussions about regulatory relief, covering the needs for such, examples of problems, and potential solutions beyond the bills already introduced. Our efforts on that front have not waned. We continue to seek passage of legislation that will ease the regulatory burden on the nation’s banks, including revival of a proposal to make portfolio loans automatically complaint with QMand ATR rules. Work is happening right here in Colorado, as well. In early March, nearly half of our Congressional delegation worked in their home state to meet with constituents on a pair of pressing topics: regulatory relief for community banks, and the need for financial services for the state’s legal marijuana industry. Senator Cory Gardner, R-CO, hosted a hearing at the Colo- rado State Capitol, focused on examining disturbing trends in the bank regulation and how small businesses, already hindered by burdensome federal regulations, are being affected. He was joined by Congresssmen Ken Buck and Mike Coffman. The hearing attracted about 50 observers and addressed much of what we as bankers have been saying since the 2008 economic crash: Dodd-Frank and regulations were supposed to respond to the financial crisis, but are actually hurting main street banks that had nothing to do with it. Several CBAmembers testified during the hearing, providing valuable information and insight into the realities of banking under the ever growing weight of regulations since 2008. Those new rules, they said, are cutting out those who need banking services the most, with their one-size-fits-all approach, which actually fits no one. Presenters includedDavidKelly of FirstBank, Koger Propst of ANB Bank, Jay Davidson of First American State Bank, and Dave Reyher of Colorado East Bank and Trust. Davidson said, "It's not 'us poor banks,' we'll get through this. It's really sad that we can't do what we opened our banks to do: lend to independent business persons and individuals.” Meanwhile, Congressmen Ed Perlmutter and Jared Polis, joined by Kansas City Federal Reserve President Esther George, hosted a roundtable discussion with representatives of the marijuana industry, to open lines of communication around the issue of the industry accessing financial services. This meeting –while not intended to produce solutions to the issue – is a good step in helping those in the marijuana industry as well as lawmakers, would-be financiers and the general public understand the complexities and challenges of this issue. CBA continues to assert that the only solution to the issue is an Act of Congress. We are unsure if andwhen any actionmight take place toward regulatory relief or toward the marijuana industry accessing financial services, but we laud Colorado’s representatives at the nation’s capital for continuing to keep a spotlight on issues that affect their communities at home, and working toward solutions. It is meetings like these that exemplify the importance of bankers’ involvement in policy and industry advocacy. Because bankers banded together through Friends of Traditional Bank- ing to contribute $500,000, Sen. Gardner was able to defeat incumbent Mark Udall in the Senate. He has quickly gotten to work in defense and support of our industry. Because bankers have steadfastly held to the notion that only an Act of Congress will allow banks to serve the marijuana in- dustry, our representatives, members of the marijuana industry and the public, as well, are coming around to our way of thinking. Soon, CBA will release a new tool for banks to use to educate their employees in the skill of advocacy, as well as to implement advocacy efforts inside their banks. As we’ve learned firsthand in recent years, the loudest and most synchronized voice is the most effective. Watch this space for more information.  Don Childears Colorado Bankers Association Pres/CEO Advocacy in Action in Colorado and D.C.