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Grassroots Advocacy Resource Center
The American Bankers Association prides itself on knowing about the issues that affect the financial services industry and how to address those issues on Capitol Hill. ABA's Grassroots Advocacy Resource Center is a place where YOU can see what issues are in play for the banking industry today and in the future, as well as how YOU can educate others, including your Members of Congress, on those issues.
It has never been more important for bankers to speak directly to their Members of Congress about issues facing the banking industry.
Mark your calendars for March 16-18, 2010 for our third annual Government Relations Summit in Washington, DC. Also, consider joining your state association for their Washington Visit. Contact your state association for additional information.
Take Action Now!
Grassroots Spotlight | Direct Contact Bankers
Additional Resources
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Grassroots Spotlight
Consumer Financial Protection Agency (H.R. 3126) – In response to the criticisms bankers leveled at the Administration’s original Consumer Financial Protection Agency (CFPA) proposal, House Financial Services Chairman Barney Frank (D-MA) has essentially rewritten the bill prior to the Committee mark-up scheduled for October 14-15. The new draft removes government designed financial products and the unworkable “reasonable” standard for all consumer communications, requires the CFPA to coordinate bank exams with bank regulators, and attempts to provide a more equitable CFPA funding structure. While this is a step in the right direction, at a September 30 Financial Services Committee hearing on the new draft ABA President & CEO Ed Yingling made it clear that ABA is still opposed to the CFPA proposal because it still has three major problem areas: the new agency creates a conflict with safety and soundness regulators, it undermines federal preemption, and the agency would have broad “legislative” powers (read Mr. Yingling’s testimony). The House Financial Services Committee is likely to take action on the CFPA proposal by the end of October. For more detailed information on the draft read the ABA summary and the ABA's summary of the manager's amendment.
Elimination of Thrift Charter – Another controversial aspect of the President's regulatory reform package is the proposal to eliminate the OTS and the federal thrift charter. ABA's opposition to the elimination of the thrift charter appears is having some impact on the debate. House Financial Services Chairman Barney Frank does not believe that it is necessary to eliminate the OTS or the thrift charter. Senate Banking Chairman Chris Dodd, while still talking about eliminating the OTS is no longer specifically talking about eliminating the thrift charter.
Take Action! – If you have not written to your members of Congress on either of these issues we encourage you to do so now. We have provided three sets of talking points for you to use so you can either send individual letters in opposition to the elimination of the thrift charter and the creation of the consumer financial products regulatory agency or send one letter in opposition to both. The choice is yours. The links to these talking points are below.
Oppose Elimination of Federal Thrift Charter
Oppose Creation of Consumer Regulatory Agency
Oppose Both Elimination of Thrift Charter and Creation of Consumer Regulatory Agency
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Are you a bank CEO/President interested in getting more involved in grassroots advocacy? If so, ABA's Direct Contact Bankers Program (DC Bankers) may be right for you. Click here to learn more about the qualifications and expectations of the program.
- View Brochure
- If you have read the above qualifications and expectations for DC Bankers and are interested in joining the team, Sign Up Here.
- If you are a DC Banker and want to report back on a meeting with a Member of Congress, click here.
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Additional Resources
 For developments and updates related to the 111th Congress, please check our site or contact us.
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Questions? Please contact the Grassroots Office for more information.
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