December 15, 2014
Community Bankers Association of Illinois (CBAI) staff and leadership bankers, Todd Grayson (President of South Central Bank, N.A., Chicago and Chairman of CBAI) and David Pirsein (President of First National Bank in Pinckneyville and CBAI Southern Illinois Regional Vice Chairman) respectively, met with Illinois’ new Congressmen Robert Dold (R-10th) and Mike Bost (R-12th) to review CBAI's Federal Policy Priorities.
CBAI’s long history of exclusively representing the interests of Illinois community banks was highlighted during these meetings, including the associations cooperative relationship with the Independent Community Bankers of America (ICBA) and how this relationship has strengthened community banking's influence at the national level to the benefit of Illinois community banks.
The substantive issues discussed during the meetings included addressing the risks posed by too-big-to-fail banks and financial firms, the need for regulatory relief and tiered regulation for community banks, credit union taxation, the Farm Credit System’s expansionist agenda, and other issues contained in CBAI’s 2014 Federal Policy Priorities. Read CBAI’s 2014 Federal Policy Priorities.
Congressman-elect Robert Dold defeated Democrat Congressman Brad Schneider in the 10th Congressional District which includes Chicago’s northern suburbs. Dold is a small business owner and previously served in the United States House of Representatives from 2010-2012. During his previous term in Congress he was a member of the House Financial Services Committee and was a strong supporter of Illinois community banks. CBAI is pleased to announce that Bob Dold will be rejoining the House Financial Services Committee and looks forward to again working with him on this important Committee.
Congressman-elect Mike Bost defeated Democrat Congressman Bill Enyart in the 12th Congressional District which is located in southwestern Illinois. Mike’s background includes owning a small business and serving in the Illinois House from 1995-present. CBAI’s state Governmental Relations staff has enjoyed a good working relationship with Representative Bost. CBAI is also pleased to report that Bost has been named to the House Agriculture Committee.
CBAi sincerely appreciates Illinois’ newest Congressmen committing their time to meet with leadership bankers and staff to learn more about Illinois community banks and CBAI's federal policy priorities.
We look forward to meeting with every member of the Illinois Congressional delegation during CBAI’s 33rd Annual Call on Washington, April 28 – May 1, 2015. Please save the Date! Your participation in the legislative process is vital to making sure the voice of Illinois community banks is heard in Washington, D.C.
Earlier this fall, the Federal Housing Finance Agency (“FHFA”) released proposed rulemaking regarding changes to Federal Home Loan Bank (“FHLB”) membership rules. These proposed changes would represent a fundamental change to the FHLBank System by imposing ongoing requirements that all FHLB members would need to meet in order to maintain their membership. If implemented, these requirements would, among other problems, greatly undermine the reliability of the FHLBs as sources of liquidity for members, particularly in times of economic stress and especially for smaller members that lack alternative liquidity sources.
The FHFA has requested comments on this proposed rule by January 12, 2015. CBAI will be commenting on the proposed rules and encourage CBAI members that are also FHLB-C members to participate in this webinar and submit their comments. This FHLB-Chicago webinar will be held on Thursday, December 11, 2014, from 9:00-9:30am CST and will explain the proposed rule, encourage members to make their voices heard, and answer questions about the rule.
After registering, you will receive a confirmation email containing information about joining the webinar.
To register for the FHLB-Chicago webinar, click here.
November 26, 2014
The Community Bankers Association of Illinois (CBAI) opposes the expansionist agenda of the Farm Credit System (FCS) which has allowed FCS lenders to become almost the equivalent of commercial banks while retaining the benefits of their Government Sponsored Enterprise (GSE) status. The funding and tax advantages of the FCS constitute an unfair competitive advantage over Illinois’ rural community banks. If the System chooses not to follow its narrow historic mission, it should be abolished or subject to taxation and rigorous oversight and regulation. Read More.