After a two-year COVID interruption, Texas bankers made the trek to Washington, D.C. and visited with congressional members and staff on key priorities related to the banking industry. The timing of the 2022 Washington Summit was particularly imperative as the Biden administration has sent a clear message that banking as we know it is on notice and dramatic changes are on the horizon.
The nomination of radical thought leaders to head agencies critical to the banking industry has sent shockwaves throughout the financial services ranks. At the root of banker concerns is the weaponizing of regulatory mandates to enforce political and philosophical policies on every institution in the United States, regardless of the negative impact on consumers, community banks and the small business community.
Needless to say, banker priorities included opposition to regulatory overreach, such as changes to Section 1071 of the Dodd-Frank Act, as well as a call for bipartisanship leadership at the Fed.
Texas bankers showed up in force to the ABA Washington Summit with the largest contingent of members at 67 on hand to take part in the emerging leader forums, as well as dedicate some time to pound the pavement on Capitol Hill. This year’s Hill visit looked very different from years past as Washington, D.C. remains a city stuck somewhere between in and out of high alert for COVID-19, in large part due to what felt like political posturing rather than safety.
The frustration manifested itself when Texas bankers had to endure some bureaucratic red tape to enter congressional space that was generously provided by Congressman Pete Sessions. The room offered bankers a wonderful opportunity to meet with more than a dozen Hill members and staff to discuss priority issues.
Texas bankers met with multiple members and their staff at a time. This included Texas Congressional members Jodey Arrington, Michael Cloud, Henry Cuellar, Pat Fallon, Vicente Gonzalez, Lance Gooden, Sheila Jackson Lee, August Pfluger, Beth Van Duyne, Randy Weber and Roger Williams. They also had the opportunity to visit with staff from the offices of John Carter, Joaquin Castro, Lloyd Doggett, Louie Gohmert and Al Green. In addition, Texas bankers were able to visit with Sens. John Cornyn and Ted Cruz in their office and on the capitol steps, respectively.
Several first-timers of the Hill visit said it was their most important meeting as a banker advocate. Advocacy visits will often define a member’s perception of an industry, and in this case they helped them understand the realities of community banking that could not be conveyed as effectively in any other way. Bankers who had been on previous Washington Summit visits said they were very pleased with the meetings and felt the two-year break may have contributed to a widening relationship gap with congressional offices, but were pleased with the reception and end result.
We look forward to the next visit in 2023 and hope even more Texas bankers take advantage of the opportunity to carry the banner for community banks.