Pub. 13 2016 Issue 3

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 N E W M E X I C O R E A L I Z E D R E A M S 10 The feedback I have received has been invaluable, and it has driv- en ABA activities in recent months. For example, you have told me in no uncertain terms that the industry needs to take our advocacy game to a new level to counter an increasingly organized, antago- nistic and aggressive anti-bank lobby. I would have thought that the stridency with which the public policy sector treats our industry would have lessened by now, six years after Dodd-Frank and eight years post-crisis. But in fact it has increased. This is a problem. Bank-bashing-including that which comes from within the industry-damages the entire industry’s im- age and feeds those who would prefer that banks be managed by Washington. That is why the ABA is pushing back0-hard-in defense of banks. Among other things, we launched a targeted pro-bank image cam- paign aimed at Washington opinion elites. We are advertising on the radio and at Washington Nationals baseball games-which a disproportionate number of members of Congress, Hill staff, reg - ulators, agency staff and reporters attend-as well as on social me - dia pushing positive messages about the important role banks play in their communities. You can see some of that messaging at aba. com/AmericasBanks. We also are going all-in on our Power Up initiative, which is aimed at getting more bankers engaged in politics-from building lawmaker relationships to donating funds for races-in order to in- crease our success in Washington. I am grateful for the state as- sociations’ leadership in promoting this cause. More bankers are telling us that they either know their member of Congress or are willing to get to know them. They are contributing more to Bank- Pac and their state PACs. And there are giving to the Fund for Eco- nomic Growth. (Incidentally, if you are one who has done all three, please know that staff at ABA affectionately refer to you as a “power player.” If you haven’t but want to learn, visit aba.com/PowerUp. ) And we are aggressively challenging cases of regulatory over- reach, such as the Nation Credit Union Administration’s egregious member business lending rule approved earlier this year, which we believe contradicts the law , and the CFPB’s proposed rule on arbitration, which would dramatically limit the use of arbitration agreements even though data show they serve consumers better than class action lawsuits. The feedback I’ve received in my first six months on the job also makes clear that we must be proactive in addressing broad trends that are reshaping banking. That is why two staff task forces at ABA have been studying the challenges and opportunities posed by the fintech revolution and massive demographic shifts. The groups will be recommending new ways ABA can serve the industry, with a sharp focus on how we can help community banks. More on that to come, but in the meantime rest assured that contrary to many headlines, millennials are not disenchanted with banks, and that opportunities for partnering with nonbank fintech companies will be abound. These are just a fewways ABA, working closely with state bankers associations, is striving to build a more secure and competitive fu- ture for your bank. These efforts are built on banker feedback, and I hope you’ll keep that coming. n The Best Defense Is a Good Offense BY ROB NICHOLS, PRESIDENT AND CEO, AMERICAN BANKERS ASSOCIATION S ince taking the helm of ABA on January 1, my priority has been meeting with and listening to bankers and state association executives about what’s needed to help banks succeed. I’ve logged tens of thousands of miles in service to that goal and by late June have visited with nearly 3,500 industry leaders at various state conventions and meetings.