Sen. Jon Tester shares insights w/ banking leaders

SENATOR TESTER SPEAKS

TO FOTB LEADERS

United States Senator Jon Tester (D-MT) spoke with members of Friends of Traditional Banking's leadership boards this week. In the exclusive Zoom chat, Tester thanked FOTB for their support and also thanked the industry for all they have done through the pandemic.

"In the best of times community banks are critically important. In the worst of times community banks are critically important," he said.

"You have stepped up during the pandemic and made us very, very proud during very difficult times."

Regarding the tax bill, the Senator said "I guarantee we'll be in contact with you as we learn what is in it." When it comes to rural lending and ECORA, Tester stressed the importance of equity and "making things so everyone has a fair shot." When asked about the idea of postal banking, the Senator said, "It's not something I'm inclined to think is a good idea."

Another question was about banking marijuana businesses. "National legalization of cannabis is coming," he said. "I don't like it, but we need to bite the bullet and figure out a way to allow you to bank it."

Tester supports common sense regulation. "Our regulator system has to meet the risk," he added.

The Senator said that there is a group of about twenty Senators right now, "and I'm one of them, and we're trying to find bipartisan solutions." He concluded by noting that "bankers are here to make communities stronger, and our nation owes a debt of gratitude to you."

Can you help us grow?

David, in odd numbered years we push hard to grow our membership so we are ready to hit the next election year running. Here are three ways you can help FOTB TODAY!

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Are You Making

the Safe Choice or the Smart Choice?

There was a popular business axiom in the 1970’s that "you can’t get fired for choosing IBM." While IBM’s technology may not have been a perfect fit for a company, it certainly felt like a safe choice.

Similar thinking is occurring at some banks today, with big core processing firms acting as the IBM of our industry.

Read the insights on this from Jason Dutchak, EVP and Director of FOTB's partner BankOnIT HERE.

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Friends of Traditional Banking is a non-partisan grassroots effort organized by bankers in 2012 to improve the political and regulatory environment for the traditional banking industry in the U.S. FOTB is the inverse of a PAC--instead of spreading a little bit of money to a lot of campaigns, they focus a lot of money on a couple of key campaigns.