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Friends of Traditional Banking, a SuperPAC founded by state banking groups last spring, has voted to support Republican Sens. Scott Brown of Massachusetts and Dean Heller of Nevada.
September 13 -
The American Bankers Association voted Thursday to create a SuperPAC for bankers — but it has an alternative structure from Friends of Traditional Banking, the only other banking SuperPAC.
September 6 -
Friends of Traditional Banking, a SuperPAC created by a group of state associations last spring, has narrowed its sights to seven races — and is hoping more community banks will join it as it decides what two candidates it should support.
August 22 -
Frustrated by a lack of political power and fed up with blindly donating to politicians who consistently vote against the industry's interests, a handful of leaders have formed the industry's first SuperPAC.
April 4
Are you one of the thousands of traditional bankers frustrated by the misguided policies and regulations coming out of Washington? If so, you have about 50 days to do something about it.
Public policy isn't changed by well-crafted speeches, persuasive arguments, or cute lobbying leave-behinds. Policy is changed by elections. Elections only come around every two years and they are won and lost with money. Sad but true. Even if we think it's wrong, refusing to participate won't change a thing.
With this in mind, leaders throughout the banking industry have been preparing for this moment ever since the last election. We knew we had to create a new way for traditional bankers to rise up, join together and send a loud message to Congress: Their mistreatment of traditional banks, epitomized by the Dodd-Frank regulatory avalanche, must stop now.
We launched a grassroots initiative called
Our advisory council of 12 state banker association presidents and our board of community bank presidents have spent months poring over voting records and polling data and we have identified two key races for traditional banking: Senator Dean Heller (R-Nev.), and Senator Scott Brown (R-Mass.).
Just think what will happen when thousands of Friends of Traditional Banking each send one small donation to each of these candidates. If everyone does a little, it will add up to well over $1 million. It will have a significant impact on the outcome of each race. More importantly, it will have a huge impact on how every Congressman approaches our issues in the future.
We are asking everyone who considers themselves a friend of traditional banking to go to our
By doing this through our website, we can track how many friends the traditional banking industry has and how much money they are willing to contribute to the cause. When Congressmen understand this, and realize we are going to do this again in two years, this information will change the political environment for traditional banking in Congress. So if you have already contributed to one of these candidates, go to our
We can't afford to wait, and we can't afford to fail. Congress has punched traditional bankers in the nose, and if we do nothing in the next 50 days, they will continue this abuse with impunity.
When I was a kid growing up just outside of Detroit, we could learn a lot about a kid when he got punched in the nose. Some kids retreated at the sight of their own blood and ran for cover. Those kids got beat up a lot. Other kids got mad at the sight and made sure, win or lose, that the other guy left bleeding too. From that point forward, people left them alone.
So what will traditional bankers do?
If everyone steps up and participates, we can stop the bleeding. We will even get the attention of those incumbents in the safest Republican or Democrat seats. Congressmen in safe seats repeatedly win re-election because intra-party challengers can't raise money. We can change that.
It all starts with you. We have 50 days to change the future of traditional banking in America. We have created the tool. The Independent Community Bankers of America and the American Bankers Association have both issued statements of support.
The stakes are high. If we act right now, together, we will begin the long journey back to political respect and credibility.
Howard M. Headlee is the president and CEO of the Utah Bankers Association.
