12 States Lack Representation

Is Your State Represented?

Friends of Traditional Banking is a volunteer network of over 25,000 bankers from coast to coast, including YOU! We pick two or three Congressional races each cycle to endorse and then encourage all bankers and friends across the country to donate what they can to their race and help tip the scales for victory. It works!

But we need a volunteer from each state to serve on our Nationwide Banker Board. The commitment is small, but the role is very important:

-Quarterly Zoom calls (30-45min) to meet with Members of Congress and to help us select which Congressional candidates to endorse.

-Add their name to our list of other great banking leaders HERE.

-Help spread the word in their state about FOTB and the candidates we endorse.

-No cost to be part of this, and no travel requirement.

We currently have vacancies on our Banker Board from Alaska, Arizona, Delaware, Hawaii, Maine, Maryland, Mississippi, New Jersey, New York, Rhode Island, Virginia, or Vermont. If you or a banking leader you know is from one of these states and interested in being part of the fun, please email mike@mikewinder.com and let us know!

Alberts to Rep Connecticut on Banker Board

Michael L. Alberts, President and CEO of Jewett City Savings Bank, has been named to the Nationwide Banker Board of Friends of Traditional Banking representing the state of Connecticut. Mike joined Jewett City Savings Bank in 2015, driving commercial loan growth as Senior Commercial Loan Officer. Appointed to his current position in September 2021, he continues to uphold the bank’s mission as a mutual savings institution dedicated to community-focused financial services. In 2024, Mike was elected to a three-year term on the Connecticut Bankers Association Board of Directors, where he advocates for policies that benefit both the banking industry and Connecticut residents.

Before his banking career, Mike Alberts served as a Republican member of the Connecticut House of Representatives from 2005 to 2017. During his tenure, he was a leader on the Banking Committee and also served on the Commerce Committee and the Higher Education and Employment Advancement Committee. He is also a former U.S. Air Force Captain and Connecticut Air National Guard Major. As a community bank leader, Mike has been an advocate for grants to local libraries, youth programs, emergency services, and food pantries. Under his leadership, the bank has also supported community events such as the Woodstock Fair.

BANKER NEWS BITS:

Senate Banking Republican reconciliation bill would eliminate CFPB funding source, reports the Consumer Finance Monitor. "Under the existing funding structure, the CFPB may draw up to 12% of the Federal Reserve’s inflation-adjusted total operating expenses," they note; but "the Banking Committee Republicans will propose reducing that cap to 0%, according to the legislative language."

Is Congress going to kill credit card rewards? NerdWallet reports that Sen. Dick Durbin (D-IL) is still on the hunt to end interchange fees, with the latest attempt to include it as an amendment to the separate cryptocurrency-related bill the Genius Act.

GOP repeals Biden-era rule cracking down on bank mergers, according to Politico. FOTB-backed Rep. Andy Barr (R-KY) sponsored the House resolution and pointed out "easier and quicker regulatory approvals for bank mergers would help boost financial stability and allow smaller regional banks to better compete against Wall Street giants."

The House Financial Services Committee last month advanced several bills out of committee which would reshape banking regulations and initial public offerings (IPOs). PYMNTS reports that progress is being made on the Encouraging Public Offerings Act, the Help Startups Continue to Grow Act, the TAILOR Act, the Financial Institution Regulatory Tailoring Act, and the Bank Failure Prevention Act.

SPONSOR'S CORNER

Think that text message is from USPS? It could be a scam

A message from our sponsor BankOnITUSA:

Have you ever gotten a text message about a package coming via the United States Postal Service? Maybe it confirmed your order, said a package is out for delivery, or said there's a problem like unpaid postage, a missed delivery, or you need to update your shipping preferences. That text message will say to click a link to learn more or fix the problem. But there's a good chance that text message that says it's from USPS (or FedEx…or DHL…) is really from a scammer.

Learn tips to avoid these scams in the Information Security Brief from our platinum sponsor, BankOnIt HERE: https://insights.bankonitusa.com/information-security-brief-may-25

Want to provide content in our Sponsor's Corner? Reach out about being a partner! mike@friendsoftraditionalbanking.com

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PAID for by Friends of Traditional Banking. NOT authorized by any candidate or candidate's committee.

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.