CBAI’s SVP Federal Governmental Relations, David Schroeder, traveled to Washington, D.C. the week of March 4th. This quarterly visit comes after mid-term elections resulted in Democrat control of the United States House of Representatives and a now divided Congress, swearing in of new members and the staffing of their offices, and Democrat control and the reconstituting of House committees. Also, since mid-December, all of President Trump’s selections to head the banking regulatory agencies are now in place.
The beginning of the 116th Congress is an opportunity to form new relationships and renew and strengthen others. Schroeder again visited with every office of the Illinois Congressional Delegation including Illinois’ three new members: Sean Casten (D-6th), Jesus Garcia (D-4th), and Lauren Underwood (D-14th). He also met with the President of the Conference of State Bank Supervisors (CSBS) and senior legislative staff at the Independent Community Bankers of America (ICBA).
While the 2018 passage of the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) has shifted the focus of implementing regulatory relief to the banking regulators, swift implementation of this legislation and additional regulatory relief for community banks topped the discussion agenda during Schroeder’s Hill meetings. The Federal Reserve’s role in faster and more secure payments and the modernization of the Community Reinvestment Act (CRA) were also discussed as well as opposition to the expansion of powers for credit unions and the Farm Credit System. Read Complete List of Policy Priorities Discussed at These Meetings.