OFFICIAL PUBLICATION OF THE VIRGINIA ASSOCIATION OF COMMUNITY BANKS

Pub 10. 2021 Issue 1

Resetting the Strategy — High Press!

President’s Message: Resetting the Strategy — High Press!

You have always responded with enthusiasm and resolve when asked for your advocacy. I’m confident that you will continue to heed the call!

One of the important elements, if minor, contributing to the maintenance of my sanity amid the pandemic is European football; soccer, if you will. As a mature replacement for the cartoons of my young childhood, I now spend every possible Saturday and Sunday morning watching some of the world’s great athletes battle for supremacy in England’s Premier League.

A popular strategy employed by the best teams is known as the high press. Not as desperate as its basketball counterpart, the full-court press, it’s mano a mano engagement, often employed at the outset of a game, putting measured, consistent pressure on all opponents instead of focusing on the star players and settling back a bit otherwise.

The VACB advocacy team will employ a slightly less athletic version of this strategy as we transition from the last Congress to the new Congress. Virginians have previously enjoyed two representatives serving on the House Financial Services Committee, but varying election outcomes have left us with none. Also, both houses’ margins are as close as they have been in 20 years (and only a very few times before that). And the Congressional agenda going forward is likely to require playing good defense versus creating offense. The combination of these factors means that every House vote is more important than ever.

As a result, we will be working harder to build teams of bankers who can be ready to engage with each member of the House delegation as needed. Of course, our Senators remain key players, as Senator Warner continues his service on the Senate Banking Committee and Senator Kaine has engaged frequently on our behalf over the past several years, so we’ll continue to enhance the relationships we have with our members of the U.S. Senate. But we want every member of the Virginia delegation to be well versed in the great work that community bankers do and the risk to that great work posed by additional regulation.

You have always responded with enthusiasm and resolve when asked for your advocacy. I’m confident that you will continue to heed the call!