Pub. 8 2019 Issue 2

7 S u mm e r | 2019 President’s Message M E S S A G E Virginia‘s Community Bank Advocacy Wins Again on Capitol Hill By Steve Yeakel, CAE VACB President & CEO L ast year at this time, we were celebrating the success of S. 2155, the landmark bipartisan law that began the process of right-sizing the im- pacts of Dodd-Frank on community banks. It wasn’t a perfect bill, but the bipartisan support the bill received has yet to be matched. Rather than rest on our laurels, we prepared for the next battle – mak- ing sure that 2155 was implemented in the most beneficial way for com- munity banks, and addressing several major issues unaddressed in 2155. Senator Mike Enzi didn’t mince words when he said, “If you’re not at the table, you’re on the menu.” VACB bankers have engaged the new Congress with great energy, and are at the table as new legisla- tion is crafted, to support what is good and fight what is not good. Exhibit #1? VACB bankers turned out in force on Capitol Hill in late April to advocate for Virginia’s community bank priorities, as participants in the 2019 ICBA Capital Summit. Almost two dozen VACB member bankers - an- other record turnout - met with members and staff of the Virginia Congressional delegation throughout the day on Tuesday April 30 - thirteen individual meet- ings in one day. The group included four first-timers – all of whom had taken part in the ICBA/VACB advocacy training recently offered in Richmond. The meetings included in-depth discussions with Senators Warner and Kaine. They also included productive conversations with both of Vir- ginia’s members on the House Financial Services Committee, Denver Riggle- man (R-VA 5) and Jennifer Wexton (D-VA 10). Small groups met with five other members of Congress, and senior staff for the other four members. Issue #1 was BSA reform - increasing CTR and SAR thresholds, and re-di- recting the burden of Beneficial Ownership. Other issues discussed included: - reforming CRA - leveling the playing field with credit unions and the Farm Credit System - fixing the Community Bank Leverage Ratio at 8% - subjecting all participants in the payment system to GLBA-like standards - preserving community bank access to the secondary market in any GSE reform plan and - creating a safe harbor for cannabis banking. Our heartfelt thanks to those bankers who invested their time and financial resources to make this chapter in VACB Congressional relations so successful. Richard Anderson National Capital Bank, Washington Dan Brenton Federal Home Loan Bank of Atlanta Jonathan Comer Blue Ridge Bank, Luray Jeff Dick MainStreet Bank, Fairfax Dennis Dysart First Bank, Strasburg Mike Ewing Oak View National Bank, Marshall Bill Foster Village Bank, Midlothian Alice Frazier Bank of Charles Town Mark Hanna F&M Bank, Timberville Lloyd Harrison Virginia Partners Bank, Fredericksburg Lyn Hayth Bank of Botetourt, Troutville Doug Jenkins Virginia Commonwealth Bank, Richmond Lisa Kilgour MainStreet Bank, Fairfax Carolyn Kline Virginia Partners Bank, Fredericksburg Max Morehead Village Bank, Midlothian Brian Plum Blue Ridge Bank, Luray Thomas Rasey The Farmers Bank of Appomattox Chris Reddick National Capital Bank, Washington Chris Snodgrass The Bank of Marion Jay Stafford Benchmark Community Bank, Kenbridge Joe Witt Old Point National Bank, Hampton By being there, by showing up, by telling the story of community banking in your towns, your advocacy has won again. Your presence has made clear that we will speak up and speak out on those issues that are important for our communities. We will continue reach- ing out to our elected representatives and will be certain that they know why our position on the issues is the one that will most help the constituents living in communities across their districts. Congratulations! Now it’s on to the next battle. Together. Thanks so much for energizing the team.