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Community Bankers Association of Illinois
Bank
notes
whichmust spread the costs of compliance
over a smaller number of employees and
customers. Tragically, the very cause of
many new regulations imposed on Main
Street community banks is the result of
Wall Street greed and customer abuse.
If all banks are the same, then
Wall Street’s directors and senior
management would be prosecuted
alongside community bankers.
The United States Attorney General, in a
disturbing moment of candor, admitted
in Congressional testimony that his
office was reluctant to prosecute and jail
Wall Street bankers for their misdeeds
because of the potential impact on the
financial system and economy.
The AG’s office has a much different
approach to community bankers who
are vigorously prosecuted for their
alleged violations. We are all not all the
same when the American Constitutional
right of equal justice under the law does
not apply to everyone.
If we should all be speaking with
one voice, then the Wall Street
mega banks should have no need for
their own separate representation.
While Illinois community banks have
two associations singularly dedicated to
representing their interests, CBAI and
ICBA, the mega banks have a stunning
15 associations representing them
in Washington, not to mention their
own internal lobbying operations (see
sidebar). As a result, their call for one
voice rings hollow. An estimated 4,000
highly-paid lobbyists now represent
Wall Street on Capitol Hill, and the
head count is growing in an all-out effort
to defeat attempts to downsize the mega
banks and increase their capital and
liquidity requirements.
If we all spoke with one voice,
community banks would not have
won hard-fought FDIC insurance-
premium relief.
The mega-bank lobby opposed the
provision to permanently increase the
FDIC coverage limit to $250,000 and
change the FDIC premium assessment
method that has subsequently saved
community banks billions of dollars.
Given the markedly divergent positions
on such critical issues as too-big-to-fail,
capital and liquidity requirements, and
tiered regulations, one voice is truly a
myth. The fact remains that Wall Street
does not care about the needs and
interests of community banks.
CBAI and ICBA exclusively represent
community banks and are not conflicted.
No time is wasted on complicated
mental gymnastics to spin or finesse
CBAI’s 2015 Federal Policy Priorities (Summary)
The Community Bankers Association of Illinois (CBAI) supports fair competition for financial services, the clear separation of banking and commerce, the dual banking
system, and opposes the concentration of economic and financial resources as evidenced by mega banks deemed too-big-to-fail. Based on these principles, CBAI
has identified the following 2015 Federal Policy Priorities to help community banks operate successfully and better serve their customers and communities.
•
Downsize Too-Big-To-Fail Banks and Financial Firms to Protect Our
Financial System, Economy, and American Taxpayers from Future Bailouts
•
Support Tiered Regulations and Supervision for Community Banks as
Contained in the Independent Community Bankers of America’s Plan for
Prosperity
•
Support Taxation of Credit Unions and Oppose their Expansion of Powers
•
Support Abolishing or Reigning in the Farm Credit System
•
Support Enhanced Cyber, Data and Payment Card Security
•
Support Mortgage Lending and Housing Finance Reform
•
Oppose “Disparate Impact” Fair Lending Causes of Action
•
Support Consumer Financial Protection Bureau Reform
•
Support DeNovo Community Bank Formation
•
Maintain the Federal Home Loan Bank System
•
Oppose Excessive Intervention in Monetary Policy
Doug Parrott (State Bank of Toulon); Gerry Johnson (Grand Ridge National Bank); Keith Douglass (Tomkins State Bank, Avon); ); Mary Sulser (Buena Vista National Bank, Chester); Adam Johnson
(Grand Ridge National Bank); Kerry Bell (First Trust and Savings Bank, Watseka); Bob Wingert (CBAI); Mitch Borneman (Heritage Bank of Central Illinois, Trivoli); Jim Ashworth (CNB Bank & Trust,
N.A., Carlinville); Kevin Beckemeyer (Legence Bank, Eldorado); Kathleen Cook (The Village Bank, St. Libory); Martin Rowe (First Eldorado Bankshares); Congressman Mike Quigley; Greg Ohlendorf
(First Community Bank and Trust, Beecher); Rick Jameson (First Community Bank and Trust, Beecher); Mark Field (The Farmers Bank of Liberty); Bobby Field (The Farmers Bank of Liberty)
