Florida Banking July 2022

There is no question that our industry is going to disagree with Director Chopra. But I strongly believe that we must continue to speak to those with whom we disagree. The FBA was the first banking association to conduct a Zoom call with Director Chopra. A few other associations have followed in our footsteps. The FBA in this regard is very active in scheduling both virtual and in-person meetings with key policymakers. Avoiding Director Chopra will not help our industry. During our meeting, we discussed the tough issues impacting our industry that Director Chopra has before him. Though it was not easy to have this conversation, it had to be done. Over 200 FBA members were on that Zoom call. Our industry must persist in communicating with Director Chopra. Was it easy to schedule this meeting? No, it was not! I called a friend of a friend to make it happen. The months ahead will not be easy for our industry. The FBA is fighting the plans by the

Biden Administration, its “climate czar” John Kerry and others to make banks the climate police. The regulatory cost of compliance would kill the nation’s community banks and many of the smaller regional banks. The FBA has been clear on that front, speaking out in the hallways of Washington and on national television in interviews on Maria Bartiromo’s show. Our community banks play a vital role in providing capital to the nation’s small businesses, and that is why this is important. These banks will sell out before succumbing to the ballooning compliance costs of acting as the climate police. This is why elections matter. I am a one trick pony for our industry. Please remember, elections have consequences. The FBA will never give up and we will continue to strongly advocate for our industry and for a stronger economy, as we have since our founding on the 28th day of February in 1888.

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