Pub. 5 2016 Issue 5

l e a d i n g a d v o c a t e f o r t h e b a n k i n g i n d u s t r y i n k a n s a s 8 E VERY SUMMER THE KBA Federal Affairs Committee travels to DC to advocate with policy makers and regulators on behalf of all Kansas bankers. On June 13 - 16, 2016, the group once again gathered in the District of Columbia to tell their story to decision makers who have power over the banking industry. Many committee members gathered the evening before the official meetings started so they could network with each other and meet the BLOK class. This year the dinner and reception was held at Top of the Town in Arlington, VA. (Voted Best View in D.C., this venue didn’t disappoint.) The following morning it was all business as the large group gathered on the 7th floor in the board room of the ABA for several briefings. Wayne Abernathy, VP, Financial Institutions Political & Regulatory Affairs, provided the welcoming remarks and James Ballentine, EVP, Congressional Relations & Political Affairs, gave an update on the status of key legislation on Capitol Hill. Noting that there were only 10 days left before Congress would leave on their eight-week summer break, Ballentine didn’t know how much would actually get done. The Tailor Act of 2015-16 made it out of the House Financial Services Committee in March. Essentially, the legislation states that regulation should be based on the activity and complexity of the institution rather than on size, and it directs and empowers regulators to adjust how they examine banks. The Shelby Act of 2015 had a huge push last year as the largest regulation relief bill with eight separate titles within it. It received hearings but never made it to the Senate floor due to Democratic opposition. (There is a new version with several revisions.) There is some discussion on bringing the CFPB under the appropriations process for greater Congressional oversight and to consider a five-person bipartisan board rather than one appointed leader for the newest agency. There was considerable interest in Ballentine’s report over the Henserling package that is supposed to have language that will actually repeal and replace Dodd-Frank. No one at the ABA had seen the draft at the time of this update. There were questions regarding the 2016 Fiduciary Rules that expanded the definition of who is considered a fiduciary and it was reported ADVOCACY IS ALIVE AND WELL WITH THE KBA FEDERAL AFFAIRS COMMITTEE Members of the KBA Federal Affairs Committee visit Senator Moran in his office. FDIC Vice Chairman Tom Hoenig addresses the Federal Affairs Committee. Alex Williams, The Halstead Bank, Halstead and Congressman Pompeo chat during the visit to Capitol Hill. A group of bankers meet to share their concerns with Congressman Kevin Yoder.