Friends of Traditional Banking Narrows Watch List to Four Races

Friends of Traditional Banking, one of the nation's fastest growing SuperPACs, announced today that they have narrowed their Congressional Watch List to four key Senate contests. "The U.S. Senate is the primary obstacle to the regulatory relief sought by traditional banks," according to FOTB Chairman Matt Packard, who is also president and CEO of Central Bank in Provo, Utah. "We need more Senators that understand the vital role traditional banking plays in our local communities, and these races are of very high interest to our industry."

In June, the group unveiled a list of candidates in seven Senate races and thirteen House races being reviewed. That group of twenty was narrowed to seven Senate races in July, with the formal recommendation of two key races to come in early September.

Friends of Traditional Banking has grown to nearly 6,000 members in all fifty states.

"After months of vetting, we will announce our two races to focus on soon, and we are down to four really great candidates" said Rick Sanborn, FOTB board member and president and CEO of Seacoast Commerce Bank in San Diego, California. "Our strategy is to encourage friends of traditional banking around the country to donate what they can to the two races most critical to our industry," he said.

FOUR KEY SENATE RACES

Tom Cotton (R-AR, opponent is Sen. Mark Pryor) A proven Friend of Traditional Banking as member of House Financial Services Committee: knows issues, vocal in defense of industry. Opponent supported Dodd-Frank Act and has voted against DFA reforms.
Joni Ernst (R-IA, opponent is Rep. Bruce Braley) Ernst understands the critical role of traditional banking, opponent has been a vocal credit union advocate.
Cory Gardner (R-CO, opponent is Sen. Mark Udall) An extremely supportive friend of traditional banking as a member of the House. Opponent is the primary advocate for expanding credit union business lending.
Terri Lynn Land (R-MI, opponent is Rep. Gary Peters) Michigan Bankers Association has endorsed Land. Her opponent voted for Dodd-Frank three times and is proud of that.