Texas banks: We’ve got your back
Through these efforts, Americans in 45 states used the Texas Bankers Association Action Center to send messages to their members of Congress!
Who would have thought that 2021 could have brought more drama for banks than 2020? As the final days of this year approach, the challenges faced with another round of PPP, a resurgence of COVID-19 and the emergence of an absurd proposal to force banks to be de facto IRS reporting agents have actually presented opportunities to further demonstrate to customers that Texas banks have their backs.
Think of the incredible community service you provided in alerting customers to the threat that the IRS reporting proposal posed to their financial privacy and Fourth Amendment rights. Through your efforts, nearly 50,000 messages opposing this government overreach were sent to Congress via TBA’s Grassroots Action Center weblink. This resulted in messages being sent from 238 of 254 Texas counties. Every member of the Texas congressional delegation was contacted with scores of emails, letters and personal calls from constituent bankers.
To bolster your great work, TBA sponsored radio ads in key Texas markets including Dallas-Ft. Worth, Houston, San Antonio and the Rio Grande Valley. The ads alerted the public of this threat to their financial privacy; told consumers that Texas banks oppose the proposal; and urged them to contact their member of Congress. We wrote an opinion piece featured in The Dallas Morning News that was picked up by publications such as Politico and The New York Post. TBA staff was asked to appear in television and radio interviews, not only in Texas but across the country including San Diego, St. Louis, Birmingham, Savannah, Lansing, Lafayette, Champaign and Eugene. There were TBA interviews on Mornings with Maria on Fox Business and an hour-long appearance on the nationally syndicated Jim Bohannan Show which runs on 500 radio stations across the nation. Through these efforts, Americans in 45 states used the Texas Bankers Association Action Center to send messages to their members of Congress!
As of press time, we await the result of incredible labors by the entire banking industry. But key victories have already been won in exposing the farce of the $600 and $10,000 reporting thresholds.
Together, we have sent more than just a message on a single issue. This great effort sent the message that banks truly look out for the best interests of our communities. It was a message to political leaders that Texas bankers will not sit back as our industry is challenged. And it sent a message for the policy battles, nomination debates and upcoming elections: Texas bankers will be engaged and ready to fight for our customers again in 2022.
Your TBA staff is grateful for the opportunity to work for America’s best banking community. We wish you a Blessed Thanksgiving, Joyous Christmas, and Happy New Year!